A series of reports set to be released this week will show just what Canadian consumers were purchasing in February, reports The Globe and Mail.
Astute followers of the various markets will get a sense this week of what Canadians have been buying – and of how much they've had to pay. The week kicks off with a report on home sales performance for February, and ends with two releases on retail sales and inflation.
BMO Nesbitt Burns senior economist Benjamin Reitzes expects the CMHC's new housing market report to show the number of home sales increased by 2 per cent year-over-year. Additionally, he expects home prices to have risen 8.5 per cent amid reports of a cooling market.
“Price gains remain solid despite cooling activity, reflecting relatively tight supply in major markets,” Reitzes said in an interview.
The MLS home price index, the preferred source used by experts to find average home prices, is believed to have shown some gains as well, with a 4.9 per cent jump forecasted.
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