Tighter mortgage rules have caused home sales in Canada to spike temporarily, but analysts say there is still a reckoning to come.
Canadian existing home sales were higher than expected in January because of buyers jumping in the market early before new mortgage regulations take effect, says the Canadian Real Estate Association.
Much of that activity was led by the Toronto and Vancouver markets, according to CREA in figures released Tuesday.
The Toronto market beat the national average, with sales up by a seasonally adjusted 5.2 per cent.
By Tony Wong | Tue Feb 15 2011
Click here to read more...