Canadian Real Estate Association: House prices, new listings on the rise

Submitted by Jasmina on Thu, 2006-11-30 01:43.

CBC.ca: The number of new listings jumped by 10 per cent to 47,744 last month from 43,419 at the same time a year ago. "New listings continue to trend higher, which is giving buyers more choice and taking some of the steam out of many local housing markets," said CREA chief economist Gregory Klump. He said a more balanced market will give buyers more negotiating power and time to make decisions. "That trend is forecast to continue, and result in smaller price increases in 2007," he said.