National home sales rose 3.6% from April to May. Actual (not seasonally adjusted) activity came in 2.6% below levels in May 2012. The number of newly listed homes was up 1.9% from April to May. The Canadian housing market remains firmly in balanced territory. "Until recently, mixed sales trends across the country taken together had resulted consistently in a stable national trend," said Gregory Klump, CREA's Chief Economist. "The difference in May was that sales improved in so many markets at the same time."
National sales activity is now forecast to reach 443,400 units in 2013. This represents a decline of 2.5 per cent from 454,573 sales in 2012, and marks an upward revision from the previous forecast decline of 2.9 per cent. Alberta and Prince Edward Island are the only provinces where sales are projected to post an annual increase in 2013, with declines in other provinces reflecting the impact of more restrictive mortgage lending rules and guidelines.
Despite reports of a cooling Canadian housing market and a slow-growth U.S. economy, a TD study reveals that Canadian investors have great expectations for the next 12 months. According to the first TD Investor Insights Index, which will serve as a benchmark for future reports on investor sentiment, Canadian investors are optimistic about both their personal investment portfolio and the Canadian economy. The study served as a barometer for general investor outlook and looked at external factors influencing Canadians' investment decisions and their confidence in domestic and foreign markets.
TD research finds high cost of education, lower salaries and high debt load biggest barriers to saving for 20-somethings today compared to 40 years ago.
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