Everyone is wondering what is going to happen next in the housing market. The Canadian Real Estate Association recently published a report projecting that national home sales activity in Canada in 2010 will see an increase of over 13 per cent more activity this year compared to last. Since sales activity is expected to climb, if you are in the market to buy this year you might be interested in knowing what provinces are the least expensive to buy in.
Forecast for 2010: The top five least expensive provinces to buy a home
According to the report, which also forecasted the average price for residential homes in 2010, the top five least expensive provinces to buy a home in Canada in 2010 are expected to be:
- Prince Edward Island at $149,900
- New Brunswick at $159,400
- Nova Scotia at $200,900
- Manitoba at $210,300
- Newfoundland at $222,300
Based on these forecasts, each province will see an increase in prices compared to the average of the previous year:
- 2.6% in Prince Edward Island
- 2.9% in New Brunswick
- 2.1% in Nova Scotia
- 4.4% in Manitoba
- 7.7% in Newfoundland
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