Hamilton's housing market helps buoy national real estate
Hamilton's record-breaking housing market is having an impact even outside of the region, helping to stabilize national real estate market trends.
Record-setting sales helps mitigate drops in Ottawa, Montreal: CREA
Hamilton's record-setting housing market is having an impact outside of the region, helping to soften the blow from declines in cities like Ottawa and Montreal, the Canadian Real Estate Association said Wednesday.
Hamilton's home sales in June set a record compared to the same month a year earlier, local realtors said last week. That helped buoy the national trend that saw sales slip in June 0.8 per cent compared to May.
CREA said June sales rose in about half of the cities the association tracks. Hamilton-Burlington and Durham led that charge.
A shortage of listings helps push prices higher. A Teranet-National Bank home price index released Tuesday showed prices in Hamilton homes sold were up 5.52 per cent in June compared to June 2014.