A new report from Fortress Real Developments (Fortress) revealed that two-thirds of market experts agree that a major housing correction is not in the cards for Canadians over the next five years. In fact, the report, which sourced data from a variety of professional resources, said that analysts could not agree when it came to defining a “housing bubble.”

Despite record low temperatures recorded in Toronto this February, home sales increased by 11.3 per cent on an annual basis, according to the Toronto Real Estate Board (TREB). A total of 6,338 home sales were registered through the TorontoMLS system and increases were seen across most major housing types.

National home sales fell 3.1 per cent from December of last year to January 2015, according to the latest month-over-month analysis from the Canadian Real Estate Association (CREA). Although fewer sales were recorded in approximately 60 per cent of all housing markets, the country’s weakest markets altered national totals significantly. These regions included Edmonton, Sask. and Calgary, Alta.

According to the Alberta Economic Outlook Q1 2015 report, prepared by the ATB Financial Economics and Research group (ATB), housing investments in Alberta are projected to remain flat or slightly lower in 2015, despite record-setting levels of residential building permits in Q3 2014. Factors affecting this prediction include slower population growth, increased caution on the part of developers and home buyers, heightened investor nervousness, and a softer job and wage market.

Statistics gathered in September marked 2014 as a record-breaking year for condo completions in Toronto, according to an article from the Toronto Star by George Carras, President at RealNet Canada Inc. (RealNet). Completions in the first nine months of the year broke the previous year’s record of 16,668 units. Carras attributes this growth to intensification policies and growth plans introduced in Ontario in 2005.

According to the latest data from the Canadian Real Estate Association (CREA), Canadian home sales increased, year-over-year, by 2.7 per cent in November. Similarly, the average national sale price rose 5.7 per cent when compared with data from November 2013.

Year-to-date sales growth in Calgary’s condominium market is breaking records, according to data collected by the Calgary Real Estate Board (CREB). Throughout the region, all housing types experienced a growth in year-to-date sales. However, condominium apartment and townhouse sales are currently standing at record levels, with a combined increase exceeding 19 per cent.

The Randall Residences, a luxury condominium development in Oakville, O.N., has entered construction. The amenity-rich project by Rosehaven Homes, inspired by Parisian Beaux Arts architecture, is over 60 per cent sold and only three of ten two-storey penthouse suites remain available for purchase.

According to a recent Housing Trends and Affordability report from RBC Economics, housing affordability in Canada increased in the third quarter of 2014, despite an upward trend in house prices. Factors affecting affordability included declines in fixed mortgage rates, rising incomes and reduced utility costs, say economists.