With housing starts and permits down in June, is there evidence that the housing market is beginning to cool?
- CMHC data reveals housing starts are down by 3.1% to 189,300 in June 2010 when compared to May 2010.
- New permits declined 10.8%, five times more than forecast.
The question on everyone`s mind is are prices likely to follow? According to a recent Remax survey, though prices are down they are nowhere close to crashing.
With mortgage rates Canada at all-time lows, which direction do you think home prices will move towards?