Recent months have shown that Vancouver is the top emerging real estate market in Canada, but new statistics show that Toronto could soon be the up-and-coming city in the country, reports The Vancouver Sun.
A research note from BMO Capital Markets' Douglas Porter pegs Toronto as the real estate market to watch. Not only are sales of Toronto homes up by 7.8 percent year-on-year, but prices have also jumped by more than 10 percent. That's in stark contrast to Vancouver, where sales are down nearly 30 percent from a year ago and prices only rose moderately.
"That is the market to watch now, no two ways about it," Porter concludes.
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