- Home sales volumes +1% m/m in January
- Non-seasonally adjusted sales -10.7% y/y
- Home prices index +2.9% m/m
- Prices up record 28% y/y
I'm increasingly convinced we're in the blow-off top phase of the Canadian housing bubble. Many markets -- some a far distance from major centres -- are up 40% y/y. The volume of sales don't tell the story because there's nothing available for sale.
Here are some examples of the insane pop in valuation recently:
