Canada's Housing Bubble

Active listings in inventory, in the meantime, climbed almost 21% to hit 59,232 units in June, which equaled a 9.3-month supply based on the pace of sales, Cameron Muir, the association's chief economist said in a press release.

“Market conditions have shifted from balanced conditions at the start of the year to a buyer's market this summer,” Muir said.

Hmmm... wasn't this the same Cameron Muir who said last month that 'Hot Asian Money' was going to maintain market values?

The key influences, he added, are the same ones that have helped to slow demand since they took hole in April: tougher qualifying rules for some mortgages, particularly for first-time buyers and those seeking secondary suites.

And so it goes.