Douglas Porter, chief economist with BMO Capital Markets, said evidence continues to mount that the Canadian housing market seems to have pulled off the fabled soft landing.
He said surprises on the sales data in recent months have consistently been on the high side of expectations, not the low side.
“While some are highlighting the fact that prices are now rising at ‘their slowest pace since the 2009 recession’ the plain facts are that: a) they are still rising, and b) faster than inflation, and c) prices are at all-time highs. Some meltdown,” he said
Read more in the Herald: Calgary a bright light among Canadian housing markets.