Real Estate
World’s Second Bubbliest Housing Market Starts to Look Fatigued
- Canada sees back-to-back sales decline and slowing price gains
- Nation trails only New Zealand in global frothiness ranking
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One of the world’s bubbliest housing markets appears to be slowing down.
Canadian home sales dropped for a second straight month in May as both buyers and sellers appeared to pull back from the frenzied pace that has made the country’s housing market among the hottest in the world. It places second in the Bloomberg Economics global bubble ranking, behind only New Zealand, so everyone from policy makers to homeowners will be tracking how any slowdown in Canada proceeds.