Fifteen markets to set new records for average price in 2009 In the midst of one of the most tumultuous economic periods in recent history, residential real estate has proven to be a safe harbour, with sales and average price expected to post gains in most major Canadian cities in 2009, according to a report [...]

Canadian Overview The worst recession since the Great Depression had a serious impact on housing performance during the first quarter, with home sales down 27 per cent nationally, compared to 2008 figures. Consumers adjusted to new market realities—including buyer’s market conditions—as the supply of homes available for sale rose and values dipped. Hardest hit were [...]