The Bank of Canada has joined the voices saying that Canada’s housing market is over-valued but a new report forecasts a moderation of prices in the coming year. The central bank has used a new model to work out overvaluation in the market and has for the first time issued its own forecast. No real surprises though as the range of between 10 and 30 per cent covers most of the estimates revealed by other organizations. In any case there are further estimates today of an easing of house prices in the coming months, even in the hotter markets. A report from Re/Max predicts that in Toronto, Calgary and Vancouver growth next year will be roughly half what it has been in 2014. While that still represents large sums of money, it is at least a moderation on the large rises we have seen this year.