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Canada's housing market both vigorous and stable
+ a4 F/ i" U, e6 @2 A
9 ?. x3 ?7 L- j) ]/ n8 f6 _, |6 b- Country's market poised to show growth throughout 2006 -7 w( U% U @- ^2 C$ ~+ r* K
$ ?& s! J8 ], p6 ~% c TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
z; R, R# l1 S! K: ?& P" Rexhibited moderate price increases and stable unit sales during the third
1 D L' R/ L2 k! Mquarter. Wide regional variances continued to be the dominant characteristic
3 }3 f* h8 f2 j6 ~! M; O7 i k0 yin the market, exemplified by frenzied levels of activity and double digit: ]7 e. f, O2 [. ]
price gains observed in the energy and commodity rich Western provinces, and/ H9 E7 H* v2 f2 }
more reasonable sales volumes and moderate price appreciation in Ontario,
8 a+ I8 H5 v8 Y8 E. C; M. r" v8 dQuebec and Atlantic Canada, according to a report released today by Royal
9 R1 X. i5 R0 |( fLePage Real Estate Services.* M% W1 p" F' F9 z, Q' d
) e6 a: Y9 k/ K) Z! M* A
Nationally, market trends established through the first three quarters, }5 W* m- g4 a7 Y
are forecast to continue for the remainder of the year. Robust economic$ A+ ~/ S* P& {+ O5 B
conditions, low unemployment rates, modestly growing salaries and wages, and4 V1 E- v" o$ z
sound consumer confidence contributed to the overall strength of the7 \8 j0 v( S" k. d4 I6 ]
residential real estate sector.$ \+ i- q" y" m0 b4 W0 a9 B
E1 W* _7 E1 h: U, v+ Z
Of the housing types surveyed, the highest average price appreciation9 l# R- j' O' M
occurred in detached bungalows, which rose to $300,365 (+16.3%)
5 A8 L: W; I* Y/ o4 Iyear-over-year, followed by standard condominiums, which rose to $211,562
! F: F8 T2 M3 D: h) f5 l6 h(+14.2%), and standard two-storey properties, which increased to $365,380
9 h0 ^: d( I5 ]2 [. a) @(+13.2%).
6 Z6 F) o1 G2 D, l! z
2 L: v. p: G" x t& }3 o6 J "Canada's sturdy housing market continued to demonstrate steady growth, D, }* h0 r' [2 d! y$ R
during the third quarter. For all but the west, we have moved on from the
; x- v. W% S1 \" y: cfrenzied expansion that characterized the first half of this decade, and are& l! k0 i% L/ S& n" Y4 r
poised to show continued growth at a more moderate pace," said Phil Soper,9 i2 A* D ^; i4 D9 S- R$ Z& k
president and chief executive officer, Royal LePage Real Estate Services.
, T F V- d! ?7 p- ]* n"Gone is the sellers' market that we have lived with for some years. We; q! H* y9 v1 m! o+ o j
welcome the more reliable conditions that are characteristic of a healthy( S: D9 h8 u$ X7 e
balanced market."
/ p1 C# P* _3 e" i& d; A1 c! E" C8 b3 n2 t& h/ J
Despite the double-digit rise in average national house prices,
+ v. }6 \9 @! zconsiderable regional variances were exhibited again this quarter. The shift* M+ [2 R4 `0 X' y
to balanced market conditions, which began in late 2005, has continued: Q& J; R$ U; J. K6 K8 }
throughout most of the Central and Eastern regions of the country. In the core
. a+ f( S# p5 benergy producing western provinces, the combination of very high in-migration,
9 c% r7 V7 L2 d I/ jmanageable affordability, and a shortage of inventory has driven record* B; Q* l" T8 ]& x" c! G
breaking price appreciations.1 K- t- C% A' X! [! f1 ?6 O
$ {, h( N! V+ k Echoing the second quarter and supported by Alberta's rapidly expanding) l8 e& T$ T4 O! }0 p( v
economy, Calgary and Edmonton led the charge of Canadian cities with the# P/ ]: E3 s: l+ G
largest house price appreciation in all housing types surveyed.
1 m2 U% `3 a0 i8 H; a6 ^! ^, L8 M: z8 J! C' Q
In Ottawa and Toronto, growth remained steady, supported by solid
- t4 r' r$ E6 p3 Y" Eeconomic fundamentals, an increase in available inventory and strong consumer
/ u3 o X; i" C; @' w( Gconfidence. While the pace of price appreciation in Ontario leveled off
7 q/ V' F) ]8 b% V" O; [slightly, the province's real estate market remains poised for modest growth.
0 P0 Z- e4 X! M# U6 ?: [ EIn Atlantic Canada, new housing and condominium construction offered buyers
0 ~) x9 S& a( u2 Q8 m) P1 c' |0 L8 Qgreater selection at more competitive prices, resulting in a slower rate of
6 p8 d3 \+ k( ^5 Q" d+ L8 a) @% W2 N3 d- uprice appreciation when compared with 2005.2 R( }6 E9 Z) p9 ]# ~
7 h) Z) U( { r7 l' D
While the pace of growth in Canada has slowed, the domestic housing
# j, i7 W* z, A2 Kmarket is expected to outperform the American market. The economic and; F/ V @& T1 q. d9 _* o
financial fundamentals driving the residential real estate sector in Canada% R0 _. h: Y& S7 `/ p
are markedly different than those found in the United States.* c5 ^; x" u( A' ]' u
: |; K# f% m& D Added Soper: "Canada's housing market is likely to outperform the
! h3 R# }1 A( p. U6 h2 lAmerican market through 2007. A number of factors are working in Canada's M& ]8 h8 c! Z5 ^" @! c$ E
favour, including healthy personal and governmental debt levels, the3 U& Q9 I( s0 D$ q9 I9 l, {: ?
relatively modest rise in interest rates in our country, and general
# o1 f2 j. g9 ~* Baffordability in our major cities. In addition, Americans are now seeing the
- Y& H6 n0 E4 X9 a0 ~& C; n. ddownside of a tax system that encourages maximum homeowner leverage, and+ B( f' ]: g9 C7 V1 [
aggressive financial products such as zero- and negative-amortization9 S- q- @+ X5 _8 |; w" e
mortgages that work only in a high price growth environment."
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<<
6 _1 Z, ~% Q. Q& Z- @& T" B8 V! W" Z REGIONAL SUMMARIES/ [' L( H5 B, H
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Balanced conditions continued to characterize the housing market in L; v. r4 ?- @. s: j2 k
Halifax, as significantly higher inventory levels helped to moderate the rate% u( P7 H8 s, I$ V
of price appreciation. Buyers were increasingly choosy, taking more time- ]7 U( E8 F0 H9 E' A
looking for newer, low-maintenance properties that were not in need of' R! Q! P$ ~+ u; O3 ?
renovations.
; f8 x$ j0 C! L- V6 @. y5 _. K0 V% S8 V; _! g* j: h
The housing market in Moncton remained healthy and strong as a slight
% l ^% u s2 Q: h4 Wincrease in inventory helped to moderate the rate of price appreciation
$ y3 {2 V0 K, W% t- l; Hcompared to the same period in 2005. Activity was brisk throughout August and
1 E# _) J6 M5 BSeptember and is expected to remain this way through the fourth quarter.
( N" u! O/ S4 I" o2 U+ v0 o1 d: |
9 s( u! }& ?& ~% } The housing market in Saint John underwent its traditional summer: J9 x! e9 n$ Z& f+ H2 g- l4 e
slowdown in the third quarter, with activity picking up towards the end of the
1 q4 @) |+ ~, J& Iquarter. The local economy continued to thrive, as construction on a new5 r$ ?- [$ \ I) f& Z
600,000 square-foot shopping area has begun, bringing several new box stores
2 c/ \7 t G2 V( ^to the area. Buyers have begun seeking less expensive fixtures for their homes# f' H! k5 p* a
and are instead opting for more affordable housing options.
8 [+ f" x. ], G6 A/ ~& R4 |$ y& F x- j; \4 d2 D0 f0 P
In Charlottetown, the housing market started to move towards balanced: N: I x( O8 Y; E! j. `% w
conditions, as some sellers had to begin to lower the asking prices on their7 H9 D8 E8 ~$ ]5 o
homes to make them more competitive. Activity from out-of-town and US buyers4 i7 z6 m8 f- y: H( ?8 e0 R
was down slightly compared to 2005, likely attributable to the strong Canadian
+ k8 ~8 C: n& L7 X! Mdollar. Inventory levels began to creep up in the third quarter, providing
( n; k% T9 H5 X. Hbuyers with more options when looking for a home.+ B! K% r$ s3 ` v
! T5 {) f' V/ c- G6 I Activity in St. John's slowed slightly in the third quarter, particularly
+ f9 H0 ]+ w3 J/ `among higher-priced properties, where there was a slight over-supply of homes
y: x! q4 Y' Z6 Fpriced over $200,000. Listing periods have increased when compared with 2005,
/ U2 A. ?, L* R$ xas some of the pent-up demand that had characterized the market over the last' F, `" I; N4 |
few years has been satisfied, resulting in more normal, balanced conditions.
' m" v4 x+ k a. E7 Y
: i' D( }5 n$ _7 S( h$ c; {. D Montreal's housing market recorded modest increases in average house& A1 a' K4 ^3 c$ M
prices, due to a slight seasonal slowdown in the third quarter as inventory/ _& w1 v' a' j" Z/ v
levels rose. Part of this can be attributed to the fact that many renting
! ]0 k5 M, z: C4 P. i2 C3 @first-time buyers were motivated to close on the purchase of a home by July 1,
! @0 n* V, \/ E, \- T- Lwhen rental leases expire in Quebec. Once this date has passed some of the
6 B7 Q: R1 K/ O2 S- Lpressure is taken off the market, allowing buyers to visit more homes before
/ Y' {% E4 H* Z3 g9 F' l& Imaking a purchase.
9 Q2 C4 M- {! o$ B3 z% o; E6 a
, i6 W+ i3 C% k2 d, N+ Y Ottawa held its position as one of the country's most stable housing
) W8 G. b$ q4 ]+ Y* y2 Emarkets in the third quarter, reinforced by a vibrant local economy and strong
8 U: V1 w) Q. j3 Q( O6 |8 Aconfidence, resulting in modest increases in average house prices. The city
6 C9 S4 \0 F0 C8 Q" I5 Ecentre remained a bright spot in Ottawa, with homes in this area attracting* s. B: w& d! r+ B. p) p4 a: I
attention due to their convenient location and proximity to downtown
% l$ `! H& A) {" uamenities.
4 B6 e v/ v) B3 {8 v0 T0 O: v+ T- q) t' U/ F; S B4 S
The housing market in Toronto sustained healthy activity levels3 b/ ^ l6 `$ W! Z
throughout the third quarter, as a strong economy helped to maintain demand
( x6 m/ d3 y( u1 z# bacross the city, causing average house prices to rise moderately. Toronto has
4 g- n2 f% c+ [, v( b# vcontinued to experience modest growth in average house prices, and has been# Z+ M0 j+ N& j# I5 Z
driven primarily by purchasers who are buying homes as their principle+ `: k5 z* l6 g4 e# g
residence, rather than for investment.
; ?5 I( h7 t1 t5 U( z+ k; T. v
+ \" B9 ~ n' ^* U/ N0 J3 L9 C! N The vibrant Winnipeg housing market continued to show its strength as1 x" ^: F5 a) m" Q
house prices rose during the third quarter. The booming local economy resulted1 c. H" `4 U) K9 K8 y2 r
in a historically low unemployment rate, helping to bolster consumer
6 V6 M) N% q. O* h5 ]& lconfidence and Winnipeg's ranking as the city with the lowest capitalization
1 T9 p/ y3 g+ zrate among the country's larger cities - helped to encourage buyers to enter$ [9 V! E, C4 q1 N5 ^4 Y
the market.6 k8 q9 l7 `! O7 d% t! Z6 k/ M7 ]8 a
2 Z9 C2 U0 ^ W0 f M" t In Regina, the market experienced a slight seasonal slowdown through
' p1 R6 o+ D% g CJuly, as there were fewer purchasers in the market due to summer vacations. In
. p" X" p5 J& y1 @: P, R6 `2 IAugust, activity resumed to the busy pace previously seen in the spring4 A* A- f3 V4 M5 f
months, as the influx of purchasers made it more difficult to find a home due f) E E0 L( p8 o: Q/ {" E- l
to the shortage of available inventory.
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Activity in Saskatoon remained brisk as the market maintained its+ \+ {) ]8 {8 `2 v( M! k
momentum from the busy spring sales period. The economy in Saskatoon remains5 o* f8 Q9 |' g$ K. A% a8 A+ ]
vibrant, as employment opportunities are abundant with many businesses
8 m! B( i6 Y( a1 {struggling to make hires and having to recruit outside the province.
$ j4 ~- c. e s/ o! Z& @+ M& G1 j! k0 Q+ U p
Calgary's housing market recorded blazing average house price increases, s, a' s8 L, t9 e* S" e/ N
in the third quarter, in all surveyed categories. The burgeoning economy, low
& U1 U% e( g& m6 E3 t: Yunemployment rates and low inventory levels remained the leading factors that9 c: u, f( N" S
pressured Calgary's house prices upwards. However, regardless of the soaring! _4 Z; E8 h4 t6 p3 p; s: d/ ?2 D
prices that characterized the market - even during the typically slower summer7 P# d+ K- k# w g$ l
season - it is expected that activity will become slightly more balanced, as
F4 D' ]+ F/ z- lbuyers are becoming more reluctant to participate in the frenetic activity.4 z4 n' j& t1 ?- I0 w, A
' I7 {9 H: h% P% m+ x Edmonton's booming local economy continued to thrive in the third quarter
* U" l* C" e S- [7 P @' q" Aas activity in the oil sands north of the city continued to flourish. Edmonton
" d& e' Y) H% i, T/ cremained the hub of activity for those coming to work in the oil industry,, n( D8 u( q* K; R! a1 h: B
maintaining tight inventory levels across the city, resulting in prices
5 A0 A2 c2 O6 v: J2 p7 u3 G% \) x. X4 hincreasing at record levels. However, as inventory levels continued to improve
3 e! e: A4 a6 I. rin the third quarter the rate of price appreciation should moderate slightly% X4 g) N0 j0 Y t" `
towards the end of 2006.
3 t8 H" C- _, M6 }6 R5 c/ Z6 j/ F+ s3 |% T7 s M |
While Vancouver has seen a slight reprieve from the severe shortage of6 x4 a& C1 L4 K6 K; a
inventory that had previously characterized the market, supply is still unable2 y1 n/ X) S" @/ W* `
to meet demand, driving house prices upwards. Vancouver has a very diverse
7 |4 m+ Y- |! r% y9 p+ J9 P) ?group of active buyers - from first-time home buyers to baby-boomers to
4 n$ o4 m! l4 Q9 S4 w+ dforeign investors - all of whom fuel the demand for houses, placing added! k+ S- j( m; L+ G8 Q' }4 I I2 Q
pressure on tight inventory levels.
+ R! k, ~+ R: s1 ~- \& r" W. ~# K0 |# |& D- Q/ Q2 U1 a
Victoria's market is vibrant and supported by strong economic
4 D8 v# E+ z" [% ]2 t/ s; s! efundamentals, fuelled by a booming tech sector and a migration of young people
! [( O2 j$ i& N# r$ ?9 ~* r/ rinto the city that has continued to support the area's house price increases;
4 M3 l3 U [9 [; v) Twhile increased inventory levels have afforded buyers more time when searching+ j% y( Q1 r$ D9 s
for a home, helping to normalize the market's pace.* E- j" C- p/ Z$ }$ q3 Y$ v# e( E
7 R: ?( M) |& S" z6 J) h$ z1 f" T$ x <<
8 K8 ~( o& o1 i' c+ |# ? Survey of Canadian Average House Prices in the Third Quarter 2006' {2 b% ~$ u; q q" o- |* \
M' c) ~2 B2 p# z -------------------------------------------------------------------------. r) `9 a: H8 p9 n& `# k* |
Detached Bungalows Standard Two Storey
' v; M' [" m& x; u5 l: k -------------------------------------------------------------------------& e: j) t0 c! |
2006 Q3 2005 Q3 Bungalow 2006 Q3 2005 Q3
* k3 l& X6 W; O. r! ] Market Average Average % Change Average Average
# C/ [0 ~0 }" {: x5 b- c -------------------------------------------------------------------------
6 [! L* O4 E8 O Halifax 186,333 173,333 7.5% 198,667 199,000) A9 x7 m/ R. s k2 T4 x
-------------------------------------------------------------------------
8 ~/ v; Y2 j( u Charlottetown 145,000 141,000 2.8% 175,000 170,000
1 k/ n0 A9 ]' R% ], B -------------------------------------------------------------------------
" l9 P! u! ], u, D8 |+ T9 s9 G' r, t$ B. R Moncton 135,000 127,000 6.3% 129,000 123,000. j. ~( M4 U% @7 e+ G
-------------------------------------------------------------------------
; g- I+ s$ F9 _4 j, }8 @ @2 A Saint John 141,200 142,900 -1.2% - -
6 H9 ]$ i: N6 Q, ~$ W9 s5 e -------------------------------------------------------------------------) b. s1 S' m& |6 @* V7 q. G8 w
St. John's 143,667 142,667 0.7% 200,667 202,3331 r2 W& i8 B0 {' K# a0 m
-------------------------------------------------------------------------
# P+ ?2 \/ j' i, A8 ?, h' {) P Atlantic 150,240 145,380 3.3% 175,833 173,583* r7 B* N+ E1 h2 {( R5 o
-------------------------------------------------------------------------( D% S3 r8 N- h1 u1 v! K3 X
Montreal 213,691 203,500 5.0% 321,141 316,1857 w8 J( h! y6 O. k, l( S# b, r9 m
-------------------------------------------------------------------------
+ D# |# U/ d+ K Ottawa 290,083 278,417 4.2% 285,667 273,250$ q- q8 U- _( w+ k% ~
-------------------------------------------------------------------------
$ }! R$ A W! z3 d" b Toronto 373,368 355,882 4.9% 481,523 474,766
8 w X' t/ P+ @2 W" @. w -------------------------------------------------------------------------0 b& O" O2 y% A
Winnipeg 181,579 159,860 13.6% 202,337 180,7074 r8 X5 M9 [/ O% a$ o! `* B% s
-------------------------------------------------------------------------9 g% x4 \2 q0 c) @' j: S/ _; A
Saskatchewan 170,667 156,083 9.3% 182,600 166,500. Q* b9 r% h" |1 ]' i5 i
-------------------------------------------------------------------------
( Z4 J/ l8 B. n Calgary 395,067 252,411 56.5% 405,778 264,3894 N6 `" t8 D( N1 `; ?
-------------------------------------------------------------------------0 I9 I! o5 E4 U- h$ \
Edmonton 286,857 194,857 47.2% 316,429 206,7140 G0 L, U* n3 Z! v ?7 }
-------------------------------------------------------------------------5 A$ A! ^4 C5 }8 q' e
Vancouver 704,250 601,000 17.2% 794,000 697,5002 r, u J# C" j1 O+ ?8 g5 @
-------------------------------------------------------------------------& N- U. V& |% F+ T3 o3 c
Victoria 375,000 348,000 7.8% 403,000 391,0008 A/ p2 C A7 V1 \
-------------------------------------------------------------------------
* m, m' i, u7 d: O! f! i# t National 300,365 258,202 16.3% 365,380 322,860
7 U! q: F2 n# o+ A1 H6 c -------------------------------------------------------------------------
: O- d/ F/ e" Z* h) |: G6 u* T3 Z! z$ n1 |# z [
-------------------------------------------------------------7 D% X; t s* D
Standard Condominium- q1 r: Y2 F3 L/ g5 {
-------------------------------------------------------------) z$ n/ q, T' L- f
2-Storey 2006 Q3 2005 Q3 Condo
& k0 p. ~% a9 g: [% f2 d8 E8 z0 \ ~ Market % Change Average Average % Change
1 e' c5 c) j! Y& m. Q x -------------------------------------------------------------9 }$ Y2 V$ k# P% g& H+ N0 _' p
Halifax -0.2% 142,000 103,000 37.9%7 g0 G/ O. S0 N1 K: b
-------------------------------------------------------------
+ l% W% b: g$ e" @' @, j Charlottetown 2.9% 98,000 98,000 0.0%* d; m- Q: u6 N8 `# Q
-------------------------------------------------------------3 x) Q+ Y6 b, [5 t* K1 v
Moncton 4.9% - - N/A' v; C% l& K7 H& }0 v
-------------------------------------------------------------
* K8 C4 E) v% [/ u Saint John N/A - - N/A
" Y7 p; } R L' ^/ |; e: D -------------------------------------------------------------+ V" M! N3 N4 W) L' W; a: |8 M5 Y
St. John's -0.8% 146,333 145,667 0.5%
, B0 Z" [% ]0 ] -------------------------------------------------------------5 D0 f% E1 R" V E6 h
Atlantic 1.3% 128,778 115,556 11.4%
* l j9 N3 O: y -------------------------------------------------------------% k' w9 l0 @4 }) k3 ]% V @4 L+ y
Montreal 1.6% 193,190 188,016 2.8%* b2 x0 |0 M1 W$ z$ i! G
-------------------------------------------------------------
9 T* J# {. `2 `5 z" ^, e4 A; s Ottawa 4.5% 181,083 172,250 5.1%. H' e( `9 Y( Y+ H5 ^/ T
-------------------------------------------------------------
/ ^0 t/ `9 j4 F. j$ _# h Toronto 1.4% 252,088 242,918 3.8%. a$ {) ^, W% p: l4 v/ T0 C1 `5 E+ o
-------------------------------------------------------------2 [) m) u+ |1 s* w7 Q
Winnipeg 12.0% 105,648 96,008 10.0%
9 u3 L& p0 Y6 g/ d; f! J% d( G -------------------------------------------------------------1 m7 o" Z5 g" I* d1 W3 `7 g
Saskatchewan 9.7% 106,250 101,000 5.2%
4 Y8 O0 \ x$ _8 \9 D -------------------------------------------------------------
! L3 ?0 J: d" {8 A! `& V" n; p Calgary 53.5% 245,844 153,867 59.8%
! r* }: t% o. A% B -------------------------------------------------------------9 \. U$ `$ |# }% z9 R5 U5 Q9 x
Edmonton 53.1% 200,433 131,500 52.4%1 Z4 t% @4 W2 N' ?
-------------------------------------------------------------" l3 ^" q9 [$ G7 N# I! _+ a# D
Vancouver 13.8% 366,250 323,250 13.3%& P' u3 f4 K# ~+ I2 K, x5 I
-------------------------------------------------------------2 m6 j2 P2 G M0 K
Victoria 3.1% 229,000 220,000 4.1%
* m1 C' Q# j5 }) ~: ~" I2 s. S -------------------------------------------------------------
- l& m; @/ }5 |. z# @ National 13.2% 211,562 185,296 14.2%
) K; o: G$ m, j7 H/ |7 I -------------------------------------------------------------8 `0 [- s" v' _1 p; U$ I u3 l& o
>>4 D1 g* s8 b3 S1 x/ _9 Y+ ?
/ v1 q+ d) u( w* o& G: h Average house prices are based on an average of all sub-markets examined
0 k- ?$ v( _( H# B0 w1 Lin the area, except for the smaller markets of Charlottetown, Moncton, Saint( w: M( I. w3 F6 p- {
John and Victoria.# v H9 ~& C7 {. L
' s. @4 S" h2 r" x" X/ l
The Royal LePage Survey of Canadian House Prices is the largest, most
8 P' t$ n' J1 r" jcomprehensive study of its kind in Canada, with information on seven types of$ _7 P! F: H2 B; l7 A9 i; S
housing in over 250 neighbourhoods from coast to coast. This release; x4 q7 w( ]2 S- f2 O3 @; G" N2 d
references an abbreviated version of the survey, which highlights house price
5 Q$ U* n8 \: jtrends for the three most common types of housing in Canada in 80 communities
) L! z9 O; o1 a) l3 M4 ^8 f% d8 ^! `across the country. A complete database of past and present surveys is
* _- ^' I6 o3 P, @8 Navailable on the Royal LePage Web site at www.royallepage.ca, and current
5 F# t# z X; E* p1 N6 Z L# ~7 |figures will be updated following the end of the third quarter. A printable% |' a5 W/ |" O9 z) T# O
version of the third quarter 2006 survey will be available online on1 a5 ?1 {0 k4 ~8 X$ I( K
November 15, 2006.( b# g+ Q. F' ?* j6 R
Housing values in the Royal LePage Survey are Royal LePage opinions of
; a+ a6 j5 H: @0 Z% \4 P9 Hfair market value in each location, based on local data and market knowledge8 x3 D& e% H% Z0 n) _
provided by Royal LePage residential real estate experts. Historical data is l' G/ e4 x; I$ u8 i {: p- l e
available for some areas back to the early 1970s. |
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