Real estate brokerage Royal Le Page says that the Canadian housing market has hit the predicted soft landing with price increases now slower-than-normal. Even so, prices did increase by between 3.8 per cent and 6.6 per cent in the first quarter of this year compared to a year earlier. Detached bungalow prices rose 6.6 per cent to an average of $405,985. Two-storey detached home prices were up 5.3 per cent to $451,462 with Condos up 3.8 per cent to $261,782. The firm says that consumer sentiment has been affected by the oil industry decline but lower interest rates have offset some of the impact.
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