December 29, 2014
A modest amount of overvaluation was observed by the Canada Mortgage and Housing Corporation (CMHC), meaning that house prices in the country are slightly higher than what underlying factors suggest they should be. That was a finding in the recently-released House Price Analysis and Assessment (HPAA) framework. Although the report finds housing markets in Canada to be consistent with demographic and economic factors such as employment and interest rates, Toronto, Calgary and Halifax are assessed at a moderate risk of overvaluation. See the full release at www.cmhc.ca and click on Newsroom.