Tag Archives: economic conditions
The Canadian Press
Scotia Economics says Canada’s housing market turned in one of the best, but also one of the most volatile, performances among advanced countries in 2010.
In its year-end real estate report, Scotia Economics says global residential real estate markets experienced a modest but uneven recovery this year, supported by ultra-low interest rates and gradually improving economic conditions.
Canada was among six of 12 countries studied that saw home prices increase.
Prices in the U.S. and Germany were flat, while those in Ireland, Italy, Japan and Spain fell.
The Canadian real estate market experienced an unusually active winter and spring prompted by pent-up demand coming out of the recession that gave way to an unusually soft summer.
The bank predicts a more subdued Canadian market in 2011 as interest rates remain near historical lows amid an uncertain global economy.
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