The Canadian housing market in 2007 set a number of MLS sales records, and the re-sale housing market is expected to remain at newar record sales levels in 2008, accoding to The Canadian Real Estate Association. Annual residential MLS sales were up 7.6% from 2006. This was the largest annual sales growth since 2002.

Three economic factors keep Canada's housing market on a different track from the US. One is consumer confidence, two is employment and three is affordable interest rates. The Bank of Canada is expected to cut it's rates again in March.

The above information was provided from The Canadian Real Estate Association news release.