Housing prices flat or falling in fourth-quarter
Canadian housing prices were flat or falling in the last quarter of 2011, according to the Teranet-National Bank house price index released Wednesday.
For those starting the mortgage application process, home price statistics released earlier this week will be welcome news. In this report from the Ottawa Citizen, we find December's home prices fell by 0.2 percent compared with the previous month. This decline is followed by a flat October and November.
These statistics are based on analyses of 11 Canadian real estate markets, including Ottawa, Montreal, Toronto and Vancouver. Though year over year statistics have shown slight increases, it is believed the Canadian housing market conditions are balancing, calming fears of an impending housing crash.