Teranet-National Bank House Prices (Jul. 16)

The acceleration in national house price growth to a six-year high of 10.9% y/y in July, from 10.0%, reflects a spreading out of the housing mania beyond just Toronto and Vancouver. The most recent drop back in the CREA sales-to-listings ratio, however, suggests that this might be the peak for the pace of house price appreciation.

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