Steady gains in housing market

Growing homebuyer demand and increased new-home construction suggests that Canada’s housing industry is headed toward a soft landing instead of a sharp correction, says Bloomberg News.

The average home selling price in May 2013 is up 5.4% to $542,174 from May of last year, reports the Toronto Real Estate Board.

Meanwhile, Statistics Canada says cities and towns have issued $7 billion worth of building permits in April, up 10.5% from March.

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