After three years of varied periods of growth and decline across the country, the Canadian housing market is starting to stabilize, according to the latest housing report released by Genworth Canada.
Genworth is predicting that prices for existing homes will rise this year in 8/9 cities studied and in all nine cities by 2014.
Once again, the Prairies are experiencing the strongest growth in home pricing, propelled by strong economic growth, rising employment and sustained residential demand.
Calgary will see the greatest relative increase in housing prices over the next three years, with Edmonton and Winnipeg close behind. The rest of the metropolitan areas will experience more moderate growth closer to the national average.
You can read the entire news release here.