Pursuits
Housing Market Shows Signs of Rebound Amid Stricter Measures
- Outside British Columbia, gains in home sales are widespread
- Vancouver market stabilizes after August meltdown on new tax
Objective Is Not to Cool Housing Market: Morneau
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Canada’s housing market showed signs of a rebound in the month before Finance Minister Bill Morneau unveiled broad new measures designed to mitigate the risk of a major correction.
National home sales rose 0.8 percent in September from the prior month, snapping a four-month losing streak and average prices were up 2.7 percent. Home values in Toronto climbed 21 percent from a year earlier and Vancouver recovered from a sharp drop in August.