The CMHC may say that their latest figures suggest a soft landing is beginning but there’s certainly no need to panic.
A ranch of figures suggests that there will be some months of growth yet. The CMHC’s own prediction this week showed a revised annual growth figure of 4.5 per cent; 1 per cent higher than they were predicting just a few months back and the Teranet-National showed a 1.1 per cent increase from June to July.
The Conference Board also says this week that it expects sales volume and prices of condos in much of the country to be higher than it was forecasting last year. The big takeaway from much of the data is that much of it is opinion using snapshots of the market.
The calls for more reliable official data will continue and to some extent we can only adopt a ‘wait and see’ approach to the market.
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