Dec
15
Housing Sales Drop Most Since 2012 After Canada Tightens Mortgages
ByCanadian home sales in November recorded their biggest decline since 2012, suggesting recent efforts by the federal government to cool the nation’s housing market is having an impact.
Sales fell 5.3 percent in November, the Canadian Real Estate Association said in a statement. That’s the largest monthly decline since August 2012, the Ottawa-based agency said. Prices though continued marching higher despite the lower sales.
Finance Minister Bill Morneau in October tightened qualification requirements for mortgage insurance, specifically to cool the Toronto market. The impact is being felt nation wide, the agency said today…
Housing Sales Drop Most Since 2012 After Canada Tightens Mortgages
