Housing Prices Moving North in Canada

February 9, 2010 /EIN PRESSWIRE/ While its neighbor to the south is suffering a major housing crisis, Canada is seeing a housing boom, with home prices expected to hit all-time highs in 2010.

The Globe and Mail reports that low interest rates and the upcoming implementation of a harmonized sales tax in B.C. and Ontario are fueling the hot housing market in Canada. New home construction is up and prices for existing homes are swelling to historical highs, especially in Vancouver where detached homes are already out of the price range of most home buyers.

The Canadian Real Estate Association predicts that the average price for a home will rise to $337,550 CAN this year, a 5% increase from 2009.

Is this a good run for Canada or simply the next housing bubble waiting to burst?

Read more about this story at Residential Real Estate Today:

Latest Home Prices news - http://realestate.einnews.com/news/real-estate-home-prices
Latest Canada Real Estate news - http://realestate.einnews.com/canada/

Located at http://realestate.einnews.com, Residential Real Estate Today is a service of EIN News, an industry leader in news monitoring for business professionals and analysts. Using a combination of proprietary search technology and human editing, EIN News delivers to its members the latest real estate news from around the world, saving them valuable time they'd spend searching for information. New users to Residential Real Estate Today can enjoy a no-obligation, one-week free trial.

About EIN Presswire
The EIN Presswire press release distribution service is a news-syndication solution that distributes news to more than 10 million visitors annually at EIN News and millions more through its press release distribution partners. A news source for leading journalists, decision-makers and industry professionals worldwide, EIN Presswire targets press releases to a wide array of worldwide business professionals in more than 80 different industries. EIN Presswire also offers affiliate network opportunities and news distribution to tens of thousands of news subscribers daily. Read the newest business news at http://www.einpresswire.com and the latest world news in more than 80 different industries at http://www.einnews.com.

This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.