When You're Hot You're Hot

The resale housing market in Thunder Bay appears to be hot and getting hotter. Warren Philp of Canada Mortgage and Housing Corporation says that their spring housing market outlook shows the price of existing houses should go up nine per cent this year and seven per cent in 2013.  He says that the average price at the end of this year will be 184 thousand dollars.  Philp says up to fifty per cent of houses sell for at or above the list price.