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Hank Zeng
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RE/MAX IMPERIAL REALTY INC

Posthaste: Looks like Canada's housing market has finally turned the corner

Last year's housing market correction in Canada took forecasters by surprise, and now it's recovery is too. In April, sales were up in most markets and prices edged higher, led by Vancouver, Toronto and Calgary. With new listings lagging, the sales-to-new-listing ratio soared in most cities, and the strong labour market and rising wages are lending support to the market's bounce back. Capital Economics is now rethinking its forecast that house prices will be little changed over the rest of the year.

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