this morning. “This recovery is taking place against a backdrop of record demographic growth, which is accentuating the shortage of housing supply on the market.”falling to their lowest level in three years in May, there is no reason to believe that the shortage of properties on the market will be resolved any time soon.
As well, of 20 CMA’s not included in the index, price increases were observed in 10, with the most notable growth seen in Sudbury , Guelph , and Kingston . Year over year, the index fell by 7.6% in May, which the report notes is “a smaller annual contraction than the record drop recorded the previous month.”
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