The Media sure seems to think so. Every time I turn on the television that’s all I hear, quite reminiscent of the ‘D’ word being dropped every 5 seconds as we fell into our last recession. The media sells hype and unfortunately, sometimes the hype self-perpetuates into hysteria and panic.
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This year seems to be one of constant anticipation over sales activity reports. The anxiously awaited August numbers from the Canadian Real Estate Association (CREA), certainly are a great representation of that, and Wednesday they were finally reported. The good news is that for the first month since March 2010, national resale housing activity improved, showing a seasonally adjusted 4.1 percent increase from the previous month.
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