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Canada's housing market both vigorous and stable * `% B7 o' ]- d: I3 F
+ N5 h& g& _8 h- Country's market poised to show growth throughout 2006 -6 v4 c9 V$ U# A6 ^* z3 C& V
3 E+ e% |: q1 d0 _
TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market Z- I. K- {5 I5 d7 W7 Q6 p
exhibited moderate price increases and stable unit sales during the third4 e- s7 W$ O% @) D% c
quarter. Wide regional variances continued to be the dominant characteristic$ L4 K) ~$ q% [/ f! P# |/ _% h
in the market, exemplified by frenzied levels of activity and double digit
" i0 T! |' ?/ n5 N% K2 `' lprice gains observed in the energy and commodity rich Western provinces, and9 v9 n* @6 E: }
more reasonable sales volumes and moderate price appreciation in Ontario,
8 X( h- m1 n: L( O* QQuebec and Atlantic Canada, according to a report released today by Royal
! [4 v0 l3 M1 f( kLePage Real Estate Services.# j, e3 Y/ |, |
$ o. J/ { a) p t
Nationally, market trends established through the first three quarters4 l+ H/ S5 v' `
are forecast to continue for the remainder of the year. Robust economic
4 p# P4 H Q' P. tconditions, low unemployment rates, modestly growing salaries and wages, and# W/ a. Z& N6 Z. Q. a
sound consumer confidence contributed to the overall strength of the
9 e- n% K3 b( t* A* P9 t$ y [( A0 ^residential real estate sector.
! Q9 e7 @& g7 p& Q
* ~6 x; p1 O3 w( ]% z" N9 C; k Of the housing types surveyed, the highest average price appreciation
/ ]4 J: @5 V+ I7 @occurred in detached bungalows, which rose to $300,365 (+16.3%)
6 g2 k2 a0 x. T+ o$ q1 `year-over-year, followed by standard condominiums, which rose to $211,562
2 |1 L9 M% L1 r0 j3 N4 M0 D5 B(+14.2%), and standard two-storey properties, which increased to $365,380
8 {% P5 o" e2 D4 d6 O# e* d/ [(+13.2%).
i' P3 W3 @; \' u
# ~2 t( \% Z0 ~$ r "Canada's sturdy housing market continued to demonstrate steady growth4 Q) N# |0 N8 u3 J* i
during the third quarter. For all but the west, we have moved on from the9 ^2 L; L; G% [, t6 d
frenzied expansion that characterized the first half of this decade, and are
$ f3 R/ r/ R. _+ [* Hpoised to show continued growth at a more moderate pace," said Phil Soper,: r" a. Y( s' q- ^- E2 }1 C
president and chief executive officer, Royal LePage Real Estate Services.+ Z! c+ o( b; b$ j8 N* |% R
"Gone is the sellers' market that we have lived with for some years. We+ R, f" G9 Q& _, r: Z* m/ \
welcome the more reliable conditions that are characteristic of a healthy6 I# C% V+ j2 Q. o+ ?
balanced market."6 {+ A. C2 |2 s, h8 R: V; R
! u2 E9 l I+ o8 G6 S Despite the double-digit rise in average national house prices,
- U o5 s( U3 U' R. Q. `' d* P) |% Jconsiderable regional variances were exhibited again this quarter. The shift1 T1 u( g+ V: |4 n O* F0 C
to balanced market conditions, which began in late 2005, has continued
3 k% i! c# S- Y) J9 [0 ]throughout most of the Central and Eastern regions of the country. In the core
! Q1 M [( i: N& henergy producing western provinces, the combination of very high in-migration,
& L7 `0 R3 w7 @8 i; P! hmanageable affordability, and a shortage of inventory has driven record
* R4 f4 z" Y, |# Nbreaking price appreciations.
; e( g: |2 I$ J, J3 M; y" w, ?2 k. D+ X, d
Echoing the second quarter and supported by Alberta's rapidly expanding
; K& Q5 R' W* {% v4 v7 p Geconomy, Calgary and Edmonton led the charge of Canadian cities with the# s. F7 Q+ i' N+ y9 i4 p4 M6 w
largest house price appreciation in all housing types surveyed.
' U/ a: ~" _9 [! f/ @6 N+ M% l5 j G' s" f$ J% e
In Ottawa and Toronto, growth remained steady, supported by solid" X: D$ N; Z# P" i2 v8 Q' p
economic fundamentals, an increase in available inventory and strong consumer
) ^) c; {6 q# Q: U3 |7 i- g8 Bconfidence. While the pace of price appreciation in Ontario leveled off
" f3 F- T/ B+ v, }- f* T1 Nslightly, the province's real estate market remains poised for modest growth./ l, l# y2 }* c7 Q5 B
In Atlantic Canada, new housing and condominium construction offered buyers$ v6 d% T* Y) K4 W
greater selection at more competitive prices, resulting in a slower rate of
5 n* `' J, J8 ?' q m4 ]price appreciation when compared with 2005.
3 P! L# n: X0 W+ ?' l1 f+ Q9 n( F
9 B% r) x! l. _& T% z5 P3 ^4 F While the pace of growth in Canada has slowed, the domestic housing3 o$ L- u3 L4 |3 l9 s1 D
market is expected to outperform the American market. The economic and
+ y2 c( u2 n& O" Sfinancial fundamentals driving the residential real estate sector in Canada4 g- o& `5 ?- X% c
are markedly different than those found in the United States.. J( J0 ~$ G8 R& K
! i7 F" X% M- P& N
Added Soper: "Canada's housing market is likely to outperform the) P8 u* n$ a# l* Q( B
American market through 2007. A number of factors are working in Canada's2 X& M& ?; L; o- O5 A U' V% K
favour, including healthy personal and governmental debt levels, the
. u* I2 K5 J* o- trelatively modest rise in interest rates in our country, and general! y/ Q* z6 | T! _7 Z4 ]7 k" p1 w
affordability in our major cities. In addition, Americans are now seeing the
+ |* i% ^- b- n2 J8 Ndownside of a tax system that encourages maximum homeowner leverage, and- ^+ \* D# O% j7 E& ?9 i
aggressive financial products such as zero- and negative-amortization
) f- n9 T$ U# {# ~8 b1 xmortgages that work only in a high price growth environment." y% v( M% G8 U: E1 G
, X; O/ |- c( Q; m, p+ M <<
8 B) o- i& K+ ~: n& i3 A% T0 } REGIONAL SUMMARIES
; P- ?' @; o1 l" f" H. X" z >>
$ P- B; T. V% d8 @9 @
9 k% M" l$ m& h9 }. { Balanced conditions continued to characterize the housing market in" j x* w+ c o
Halifax, as significantly higher inventory levels helped to moderate the rate
9 v$ N' \! F) L/ j" x6 dof price appreciation. Buyers were increasingly choosy, taking more time
1 T7 I; y* {1 Glooking for newer, low-maintenance properties that were not in need of* R* @, A3 l. q6 U
renovations.# l7 `! i' F Q0 k! k p
n) U7 Y$ X1 V6 }3 [% o
The housing market in Moncton remained healthy and strong as a slight
+ {" a. V2 f& H$ U1 @' bincrease in inventory helped to moderate the rate of price appreciation
+ _) j4 j- |$ o" c L# Ocompared to the same period in 2005. Activity was brisk throughout August and
9 W q( j" i$ @+ F( s* \8 B' d( w: NSeptember and is expected to remain this way through the fourth quarter.1 J# A; i4 u9 K9 }, `# {
4 r* u0 D2 C) k# ^6 h% k% i' e% |
The housing market in Saint John underwent its traditional summer
/ w" n0 E0 P+ r% S) L: gslowdown in the third quarter, with activity picking up towards the end of the
: Y7 S6 L$ v+ g' q, W+ @ ?$ cquarter. The local economy continued to thrive, as construction on a new
K0 z1 `7 {) w' A- C3 c600,000 square-foot shopping area has begun, bringing several new box stores
; {5 K/ u/ }6 D$ y+ Xto the area. Buyers have begun seeking less expensive fixtures for their homes
6 h3 H: y9 x) R2 k, P1 uand are instead opting for more affordable housing options.( }! D' S% c5 a7 z4 ~' ~0 K5 G$ x
* t' q1 w' j! E! {; x, a) N1 x
In Charlottetown, the housing market started to move towards balanced
3 f% v( V- y& H9 P' Kconditions, as some sellers had to begin to lower the asking prices on their; o9 Q3 q: a2 W4 ?# ]- h
homes to make them more competitive. Activity from out-of-town and US buyers' ^0 x2 c3 k, R) J
was down slightly compared to 2005, likely attributable to the strong Canadian4 }6 j( u! m+ E t" L
dollar. Inventory levels began to creep up in the third quarter, providing
& }3 l1 |. I/ U1 }/ Ybuyers with more options when looking for a home.
, u3 m1 l' ]: R2 |9 M" r" p1 C3 ]# R
0 J1 L: c/ j/ F, o; u$ r: J Activity in St. John's slowed slightly in the third quarter, particularly
: i5 O3 X# }+ Gamong higher-priced properties, where there was a slight over-supply of homes
( y( ?& r. J- Wpriced over $200,000. Listing periods have increased when compared with 2005,
7 _. W( t k) e9 @, y0 @; P6 t5 L: Vas some of the pent-up demand that had characterized the market over the last
% Y" {6 p& y8 E- }# U$ p- R3 @few years has been satisfied, resulting in more normal, balanced conditions.
: u9 a; B- p, H; C# }( v0 k2 ^
1 \) p+ u" I& T7 _' a+ L Montreal's housing market recorded modest increases in average house
5 j: h3 ]) U/ G( fprices, due to a slight seasonal slowdown in the third quarter as inventory
) F$ [) Q# t3 J- [! _' B( zlevels rose. Part of this can be attributed to the fact that many renting8 u1 m9 u1 x, u' m; N8 p
first-time buyers were motivated to close on the purchase of a home by July 1,3 [2 Y5 o% }) u" x
when rental leases expire in Quebec. Once this date has passed some of the% `9 h( _( c3 E9 V4 U: V
pressure is taken off the market, allowing buyers to visit more homes before
2 J$ \8 v( M% e% F7 X/ kmaking a purchase.2 A9 e8 j j. k( k
0 F8 }$ n$ K& I+ e3 h Ottawa held its position as one of the country's most stable housing
) P/ R8 d: B5 b' Q3 [" Emarkets in the third quarter, reinforced by a vibrant local economy and strong
9 `5 E( h+ t: K r; P; ~& \0 mconfidence, resulting in modest increases in average house prices. The city
/ q, O: Z4 r) @. }! Ocentre remained a bright spot in Ottawa, with homes in this area attracting0 Y7 ?+ I$ B4 w+ r# ^. c$ v/ a4 b
attention due to their convenient location and proximity to downtown; t* s+ e2 ~- S# W
amenities.
, q; C! U9 J" p" O, C5 @/ r
/ O4 b4 ]; `) C* t0 [' h The housing market in Toronto sustained healthy activity levels
4 T7 d0 g6 p* H' hthroughout the third quarter, as a strong economy helped to maintain demand; j/ W0 z. g) k" |- n
across the city, causing average house prices to rise moderately. Toronto has4 `! e( X/ j* G( R! I/ ~) h
continued to experience modest growth in average house prices, and has been. y; G8 A- ^1 c" D% @
driven primarily by purchasers who are buying homes as their principle/ [) p4 P; U O6 E
residence, rather than for investment.
! U1 K* Y/ T$ [$ n, D: j, H) W& r5 T8 E7 s5 i
The vibrant Winnipeg housing market continued to show its strength as# G" [1 L( z' b2 m3 B: L& A
house prices rose during the third quarter. The booming local economy resulted
, x, @; w3 Q, e$ J I# din a historically low unemployment rate, helping to bolster consumer
6 o) ~: s$ D: }8 Mconfidence and Winnipeg's ranking as the city with the lowest capitalization: h$ J$ v% d x7 e0 Q4 p5 w" r: p
rate among the country's larger cities - helped to encourage buyers to enter
* e/ o. i6 F1 B- o- z4 W( ithe market.+ {. V8 A% W I5 k( }7 u
! I& r- z/ M, Q! [ In Regina, the market experienced a slight seasonal slowdown through5 u9 S, w! o; o0 [4 B; V
July, as there were fewer purchasers in the market due to summer vacations. In
' A! h# n- S/ R+ J0 H2 OAugust, activity resumed to the busy pace previously seen in the spring6 i7 J0 f% V; w E
months, as the influx of purchasers made it more difficult to find a home due
" Z9 Z q/ b$ h- `3 X1 T8 a J" \to the shortage of available inventory.1 G. ?6 N1 Y1 R" k9 P1 v4 ~/ s" P6 z
( u) O: F' J; k9 V- l Activity in Saskatoon remained brisk as the market maintained its
$ q X' U! n3 x3 a0 X emomentum from the busy spring sales period. The economy in Saskatoon remains
. U" I0 X& ~$ P+ L6 m* \9 l$ Lvibrant, as employment opportunities are abundant with many businesses
$ k3 D7 k8 q5 {6 I2 wstruggling to make hires and having to recruit outside the province.
[/ u+ `" _6 [6 u( x- h) r; Z: ^4 S
Calgary's housing market recorded blazing average house price increases
( E; s0 c, D( V/ N8 K7 K& E2 Bin the third quarter, in all surveyed categories. The burgeoning economy, low( h: E: S7 ~4 t0 d# l5 Q9 }
unemployment rates and low inventory levels remained the leading factors that; Z+ x0 P9 g1 h! y5 E9 D0 X4 Q
pressured Calgary's house prices upwards. However, regardless of the soaring9 P! O, s" V$ t2 \% w9 K" L; j
prices that characterized the market - even during the typically slower summer
+ ~1 X1 N( z9 Gseason - it is expected that activity will become slightly more balanced, as1 d% }6 |8 }$ X
buyers are becoming more reluctant to participate in the frenetic activity.
6 c- }+ c. ^& R3 i4 _- f3 i
! z: D1 h' x) a* a. h: f7 B Edmonton's booming local economy continued to thrive in the third quarter1 T' _2 W8 }: L3 r3 |
as activity in the oil sands north of the city continued to flourish. Edmonton
& ]* V( `/ z7 k. v+ t8 l9 P. Yremained the hub of activity for those coming to work in the oil industry,8 o. {7 y( j( }7 r
maintaining tight inventory levels across the city, resulting in prices0 {. i- F/ `' d/ x
increasing at record levels. However, as inventory levels continued to improve
1 M9 U# F, e4 v3 S, fin the third quarter the rate of price appreciation should moderate slightly9 W+ ?% B$ M* @$ K& ^8 E | r* D
towards the end of 2006.
$ j; c* C* [ l
+ i1 g2 ^3 W% i1 U% G& d6 bWhile Vancouver has seen a slight reprieve from the severe shortage of
6 [ m a; q- U, {inventory that had previously characterized the market, supply is still unable- e, q% _* P5 l4 B) z) Z
to meet demand, driving house prices upwards. Vancouver has a very diverse
1 u- S, V4 c! G) {( L Z) wgroup of active buyers - from first-time home buyers to baby-boomers to# w% l3 X: J G+ B, I
foreign investors - all of whom fuel the demand for houses, placing added
* ]! q1 e a) ^pressure on tight inventory levels.
% Z* i) e& z: o! [# m9 a" s5 T1 @2 l0 ~0 ~
Victoria's market is vibrant and supported by strong economic) G/ I% }' d) c: v" e- Y' |
fundamentals, fuelled by a booming tech sector and a migration of young people
: _7 [) e) w) Y* K- Y, @into the city that has continued to support the area's house price increases;! h* k! |$ V6 c! W
while increased inventory levels have afforded buyers more time when searching
% N1 b$ I! P: m0 E/ C. k- h Efor a home, helping to normalize the market's pace.* ^) ~* g2 N0 O Z: m* U
* ^7 ~& X/ r1 Y+ B+ A4 Z <<$ G2 H) L6 E. L* G' @1 ]
Survey of Canadian Average House Prices in the Third Quarter 2006
+ f$ P' [; h# U: W- |$ v
/ x2 {, d9 D, k. o$ M2 Z -------------------------------------------------------------------------
* `- y; f. i+ R) }- C6 O Detached Bungalows Standard Two Storey
# R5 a% g! h$ x* I" z+ X -------------------------------------------------------------------------
7 T) F9 E: j$ G' O 2006 Q3 2005 Q3 Bungalow 2006 Q3 2005 Q3
4 r5 ]+ V( z+ U H0 c& V2 q Market Average Average % Change Average Average& u* X+ @* b* R8 W9 m! u* ?; {
-------------------------------------------------------------------------- M* O* S# U* D1 i
Halifax 186,333 173,333 7.5% 198,667 199,000
/ F$ m0 G3 E/ d+ s( j -------------------------------------------------------------------------8 ` l i$ [2 H7 d, K. s/ w" }
Charlottetown 145,000 141,000 2.8% 175,000 170,000
. y1 S, L5 j( S& }" m/ Z -------------------------------------------------------------------------/ u8 ^' |0 g* P6 T$ ~
Moncton 135,000 127,000 6.3% 129,000 123,000
$ Y) p* C! i+ ?! g3 @. S) V! q -------------------------------------------------------------------------
7 T" v9 p* h. o* G: U Saint John 141,200 142,900 -1.2% - -4 u" q j. t% m N& M: Q e9 g
-------------------------------------------------------------------------8 X" B/ y" s- f2 }/ [
St. John's 143,667 142,667 0.7% 200,667 202,333
' ]6 ?' V3 ^& k, T: O, V$ M" B! D& u -------------------------------------------------------------------------# u' r$ A) h$ E: s, C% }3 ]- k. P
Atlantic 150,240 145,380 3.3% 175,833 173,583. B' C- x4 x4 S! ~, x% [. R
------------------------------------------------------------------------- W# R: u3 J/ R& K" m7 d% P
Montreal 213,691 203,500 5.0% 321,141 316,1850 ~# j6 D m) X- }; ~
-------------------------------------------------------------------------3 [8 t# I1 X7 @, p9 Q; ^6 {* g
Ottawa 290,083 278,417 4.2% 285,667 273,250
2 u, ?( Z1 ^. `7 W1 i7 v# V V -------------------------------------------------------------------------
/ v y- z1 j6 h3 i8 P( f+ [5 I9 Y Toronto 373,368 355,882 4.9% 481,523 474,766) h, C' K8 I- ^0 Z) J$ [
-------------------------------------------------------------------------3 g G0 r- U* G D
Winnipeg 181,579 159,860 13.6% 202,337 180,707
6 r! K& J, h, Y* ^+ W* D$ f) ] -------------------------------------------------------------------------9 q& X% a4 u, k E+ a
Saskatchewan 170,667 156,083 9.3% 182,600 166,500
4 U2 L+ e. G: [) t% A/ T -------------------------------------------------------------------------7 }( }7 j" B! ]+ w8 Y
Calgary 395,067 252,411 56.5% 405,778 264,389
7 W0 N1 O! ?, I% o6 O8 m -------------------------------------------------------------------------3 H! A$ V: Z! J4 Z7 T
Edmonton 286,857 194,857 47.2% 316,429 206,714
1 ~3 H2 \( e4 e" L -------------------------------------------------------------------------( h/ X- B% N& f! o8 P; v
Vancouver 704,250 601,000 17.2% 794,000 697,500
$ m# ?1 o0 G4 v- _ d6 p -------------------------------------------------------------------------
8 n4 B/ H# K) l. ^8 p Victoria 375,000 348,000 7.8% 403,000 391,0003 D$ b U* I+ ?8 V6 R% G. ^
-------------------------------------------------------------------------
8 r! h7 o8 h( ^. B; Q7 k National 300,365 258,202 16.3% 365,380 322,860
! e/ W% I- E8 `: ^/ ~ -------------------------------------------------------------------------6 O; K0 {* {$ }, Y- G, b
7 Y4 r# n m( D) K/ O/ T" d6 k v -------------------------------------------------------------/ Z9 I0 B" R+ d( t
Standard Condominium9 f: h, K/ M/ J1 H4 \8 x1 }. [# x
-------------------------------------------------------------
6 X: `6 m- ^, }( D. J. }0 b 2-Storey 2006 Q3 2005 Q3 Condo
# O( T7 _6 ?8 j' P" w: A Market % Change Average Average % Change, W4 ]4 I) h e: x( C8 @
-------------------------------------------------------------' h9 ?6 a4 H* |& B
Halifax -0.2% 142,000 103,000 37.9%
7 s* b. a$ q; D; Y- H% i" A ------------------------------------------------------------- q! g; T3 n" k! ~0 G
Charlottetown 2.9% 98,000 98,000 0.0%
0 v5 O# M7 a$ U! n' T" k p3 g -------------------------------------------------------------' z7 _# p Y7 w) L) R5 N1 [' r/ t
Moncton 4.9% - - N/A
; }$ y: Z$ V+ c: p$ p/ M -------------------------------------------------------------
0 b# \1 w3 n! n+ A* m) v$ I, M& l4 g Saint John N/A - - N/A; }! a- I4 X6 p+ O
-------------------------------------------------------------( | H8 r9 w$ q' B) s m2 y4 L
St. John's -0.8% 146,333 145,667 0.5%
5 p. l, e& s" G3 c" h -------------------------------------------------------------5 x8 }5 L- J5 s F3 H3 J, l0 r( j0 L
Atlantic 1.3% 128,778 115,556 11.4%# \; x) I8 Q$ Y, ^3 b
-------------------------------------------------------------1 Z9 L; g3 M7 a' s6 a- `8 e8 ~$ Z
Montreal 1.6% 193,190 188,016 2.8%8 ]: n1 R1 z: U( [) @
-------------------------------------------------------------
! G0 P' C( Y, R Ottawa 4.5% 181,083 172,250 5.1%
: k0 ~9 E ~/ m' Y -------------------------------------------------------------( T, O( ]! U& F$ I
Toronto 1.4% 252,088 242,918 3.8%& ~8 L+ C- S6 Y6 e# f; _
-------------------------------------------------------------3 N" u0 Y( u' ~' _5 T
Winnipeg 12.0% 105,648 96,008 10.0%
+ H! h8 r6 h2 }1 Y# ~ -------------------------------------------------------------, z, v1 d- B# A! {; X' F
Saskatchewan 9.7% 106,250 101,000 5.2%' p! }$ z/ P0 H4 Y& {' j. I
-------------------------------------------------------------; I+ ^' b1 v C
Calgary 53.5% 245,844 153,867 59.8%4 }, a- N1 e( m+ X/ J
-------------------------------------------------------------3 Z) S6 X; l5 i1 I M
Edmonton 53.1% 200,433 131,500 52.4%
1 b. |3 n' w# A/ V0 I5 f1 e6 R -------------------------------------------------------------
1 J" n4 Y# }8 g$ Y' o$ j Vancouver 13.8% 366,250 323,250 13.3%
- a, q) H9 @3 ?1 j2 j/ D -------------------------------------------------------------
3 M/ ~2 |6 Y7 N Victoria 3.1% 229,000 220,000 4.1%
* H5 f2 o1 P! U+ t: j( ? -------------------------------------------------------------
( M7 L" Q( S5 H$ c/ n* t National 13.2% 211,562 185,296 14.2%" E4 r4 X3 B7 F, m
-------------------------------------------------------------
5 }/ F5 y! S% ] >>) C/ f. \5 c0 J# C( z1 C! Y% N7 j8 P
% ?% ~6 i, z5 p Average house prices are based on an average of all sub-markets examined
/ \) t. }& @: {in the area, except for the smaller markets of Charlottetown, Moncton, Saint
9 z6 g- o3 I' L: NJohn and Victoria.# Y/ @! p) ]; a( W% _
* Q* p$ `/ r1 U
The Royal LePage Survey of Canadian House Prices is the largest, most
( Q! |6 [% b4 ]9 h' E& M, ]" ?3 ]) vcomprehensive study of its kind in Canada, with information on seven types of3 g l" _6 B/ ?1 O
housing in over 250 neighbourhoods from coast to coast. This release
5 |: k- D5 j+ b5 K+ M) A1 f+ Greferences an abbreviated version of the survey, which highlights house price$ z" C5 k& [: z! K, L
trends for the three most common types of housing in Canada in 80 communities
& G1 l' J1 n' v+ Bacross the country. A complete database of past and present surveys is8 A3 s; m( T' A6 D
available on the Royal LePage Web site at www.royallepage.ca, and current
' v; J4 K; f1 n: jfigures will be updated following the end of the third quarter. A printable# X) k! O$ y( M+ T" F
version of the third quarter 2006 survey will be available online on/ Z' `0 Q4 i" i! g
November 15, 2006.+ E' O+ l) q1 s* I P z0 e; H3 d
Housing values in the Royal LePage Survey are Royal LePage opinions of
5 k/ f6 `: r5 ]4 ^8 k1 b2 f! s3 Vfair market value in each location, based on local data and market knowledge" Q6 u+ r/ }* |" ?* L
provided by Royal LePage residential real estate experts. Historical data is2 X) @" |; L/ y8 p S; a
available for some areas back to the early 1970s. |
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