No matter what statistics show, Canada’s housing boom is about to end, experts say

sales across the country were up 10.6% in September from a year ago, though down 1.6% from August

It might be hard to convince some Canadians the end of the housing boom is near based on new statistics from the Canadian Real Estate Association which show prices still rising.

But the growing consensus, even in the face of record valuations for homes in Canada’s three most expensive cities, is that prices will flatten out — a thesis even supported by one of Canada’s largest real estate companies.

Ottawa-based CREA said Wednesday that sales across the country were up 10.6% in September from a year ago, though down 1.6% from August. The average price of a home climbed 5.9% from a year ago to $408,795.

“Momentum going into the the fourth quarter is showing tentative signs of waning,” says Gregory Klump, chief economist with CREA, noting low interest rates continue to support increased prices in the country’s more expensive cities.

READ Full Article Courtesy Of Financial Post.com

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