Markham Real Estate Today with Asif Khan

You put in the time to get fit, but are you setting yourself up for success? Make sure all the hard work you do in the gym pays off by following these 10 strategies to do before, during, and after a workout.

Pencil It In

By end of January, it is the time to welcome Chinese New Year 2014. The Lunar New Year is the biggest and the most significant celebration in China being observed worldwide by the Chinese.

In this edition of The Weekender, a frigid bike ride, a kimono exhibit and three other things to do in Toronto this weekend. 

Toronto Tea Festival
Tea aficionados can sample unique flavours and learn from industry experts during this two-day festival. Over 37 exhibitors will be participating, including King’s Zen Tea, Rosedale Wellness Centre and Flowers to Fragrance. Feb. 1–2. Tickets $15, or $25 for a two-day pass. Toronto Reference Library, 789 Yonge St.,teafestivaltoronto.com 

Coldest Day of The Year Ride (FREE!)
For the fearless few who don’t mind the frigid temperatures, this group bike ride starts at Queen’s Park and winds its way to Dufferin Grove Park, where participants will be rewarded with a bonfire and hot chocolate. Feb. 1. Free. Queen’s Park at Hoskin Ave., cycleto.ca

From Geisha to Diva: The Kimonos of Ichimaru
This new exhibit at the Textile Museum of Canada allows visitors to delve into the personal wardrobe of Ichimaru, one of the most famous geishas of the 20th century. Her luxurious kimonos were hand-crafted. Until May 25. General admission $15. Textile Museum of Canada, 55 Centre Ave., textilemuseum.ca

The Great Digital Film Festival
Film buffs can catch their favourites on the big screen during this week-long festival. Movies featured include Battlestar Galactica, The Avengers, Flash Gordon, and Iron Man. Jan. 31–Feb. 6. Tickets $6.Scotiabank Theatre, 295 Richmond St. W., cineplex.com

Gary Shteyngart with Ian Brown (FREE!)
The best-selling author Gary Shteyngart (known for his dystopian romance Super Sad True Love Story, and for his complicated views on Canadian fiction) will chat with the Globe and Mail’s Ian Brown about his new memoir, Little Failure. Tickets are free, but must be booked in advance. Arrive early for guaranteed entry and the best seats. Jan. 31. Free. Toronto Reference Library, 789 Yonge St.,torontopubliclibrary.ca

A McMaster University professor recently handed his urban geography class an interesting assignment: Uncover Toronto neighbourhoods where a new resident would find just the right mix of lifestyle and value.

House hunters boxed in by preconceived notions of Toronto’s “best” neighbourhoods may find the student’s outlook refreshing as we head into the busy spring real estate market. Stuck on High Park? Why not think Milliken instead? Or South Riverdale? Or the Yonge/Church corridor?

Prof. Harris, who teaches in the School of Geography and Earth Sciences, urged the students to exercise their creativity but they all started with a few details about the fictional ex-patriate: She grew up in Brantford, Ont., attended Mac, and has a job lined up in Toronto at a salary of $90,000 a year. She married while working in Hong Kong and her husband will be looking for work.

Prof. Harris advised the students to describe the couple’s ages, ethnicities, immigrant status, lifestyle and commuting preferences, plans for having children or not, and political inclinations.

The professor also spoke to personal finance columnist Rob Carrick about an assignment for a different class looking at whether a potential buyer should rent or go ahead and purchase a home in the current market.

1. South Riverdale

Deborah Baic/The Globe and Mail

For the most recent assignment, Emily Codlin introduces a socially and environmentally responsible young couple named Paul and Meg. Meg makes a high salary as a professional and Paul is a yoga instructor and practising Buddhist. They prefer to shop in locally owned businesses and seek out free-trade and organic goods.

Ms. Codlin’s research led her to recommend South Riverdale as the target community for this married couple.

The neighbourhood contains diverse communities such as Riverside, East Chinatown, Leslieville, Port Lands and the Studio District, she says.

She points to the noticeable lack of big box stores, good supply of vegetarian-friendly restaurants and a high score for walkability.

According to a study by the University of Toronto, the real strength of the Riverdale area is its uniquely caring and concerned community, Ms. Codlin says. That means local agencies have no shortage of volunteers and residents are committed to fighting for social justice.

For Paul, a growing number of yoga studios offer job prospects and there’s a Buddhist centre within cycling distance.

Compared to other neighbourhoods so close to downtown, the average property price in South Riverdale is relatively low. She notes that the average selling price in South Riverdale in 2012 was $509,848 and compares that number to earlier years to support her view that there is a trend toward increasing affluence. She also points out that it’s possible that the neighbourhood’s industrial past dampens real estate values: problems with lead contamination and air and water pollution are improving but not completely eradicated.

Ms. Codlin figures Meg and Paul will enjoy life in South Riverdale, with its affordable housing, commitment to social action and ideal location between downtown and the beach.

2. The Danforth, Gerrard-Coxwell, Blake-Jones

D'Arcy McGovern/The Globe and Mail

Another student, Nicole Gamble, undertakes the search on behalf of 20-somethings Rachel and Tony.

She narrows the choice down to the three adjoining areas known as Danforth, Gerard-Coxwell and Blake-Jones, clustered in the East End. Danforth is a band of streets north of the Bloor-Danforth subway line, while the other two areas lie south of the subway line.

Ms. Gamble characterizes the areas as having easy access to downtown, medium density housing with a mix of types, a mixture of incomes and high “walkability.”

Tony has experience as a financial analyst so this fictional couple has a little more to spend. They also are likely willing to rent for a little while in order to save up some money. An area that includes a Chinese community is ideal but not essential.

The areas Ms. Gamble recommends have a mix of non-official mother tongue languages, including Greek, Italian and Cantonese.

The area comprised of the three neighbourhoods is a fairly multicultural community. There’s a sizable Muslim population but other notable demographics as well, including small-but-significant Cantonese-speaking populations in each of these neighbourhoods.

Also, the area is suitable because it offers a mix of housing types and average prices ranged between $400,00 and $500,000 in 2012. That gives the couple more options if they decide to purchase, points out Ms. Gamble.

The area satisfies their transit and service accessibility priorities without reaching prohibitively high levels of housing costs. She also hopes that if they invest in the community soon, they will be able to benefit from its increasing gentrification in the future. While slightly elevated crime rates make the area somewhat less attractive, this is balanced out by other factors that suit their tastes.

3. Church-Yonge Corridor

Tibor Kolley/The Globe and Mail

In Sandra Paccanaro’s scenario, Jennifer and Raymond are a married couple in their late 20s who have decided to rent rather than own.

They want to be mobile for another three to five years before they have children. They would like to be in an apartment complex for easy living. They are coming from Hong Kong, where they adopted the high level of consumerism that is associated with young, professional intellectual elite.

Belonging to a distinct Chinese or multicultural community is welcomed but is not as important as being in a more socially affluent neighbourhood.

Ms. Paccanaro points the young couple toward the Church-Yonge corridor. The area is between Yonge and Jarvis streets, bordered by Bloor to the north and Front to the south.

Ms. Paccanaro figures Jennifer and Raymond will like the lively gay village within the neighbourhood.

Arts and entertainment are also plentiful, and the Eaton Centre is close by. They also value their leisure time and being able to move around the city easily on transit is important to them.

The Church-Yonge corridor area is undergoing rejuvenation and the density is increasing. Many more condominium towers are on the drawing board.

“Jennifer and Raymond want to be surrounded by people their own age and have a genuine work ethic, like themselves.”

4. Milliken

Louie Palu/The Globe and Mail

Elizabeth Burns also seeks out a neighbourhood for a couple in their late twenties. In this case, Andrea and Kevin are both politically liberal and would like to live with couples and families who share their Chinese ethnicity.

Ms. Burns has selected Milliken, Ont. as the ideal location.

This suburban area bordering Markham is bounded by Steeles Avenue, Markham Road east of Kennedy Road and north of Finch Avenue.

About 50 per cent of the population speaks Cantonese, Chinese or Mandarin.

The lower-income neighbourhood is a good fit, she says, because the couple will be out of the city but still able to associate with people of similar culture.

High-scoring academic schools are also in the neighbourhood.

5. Kensington Market

Moe Doiron/The Globe and Mail

Geoff Rose wrote about his imaginary sister Rachel and her husband Ri, who prefer to live near nature and don’t want a home that is too demanding of their time. They love walking and cycling and dislike all motorized vehicles.

Mr. Rose asked them to rank their preferences on a range of attributes that they might find in a neighbourhood. He found that they value good housing above all, with lack of crime, transit and shopping, entertainment, walkability, diversity and proximity to work following in that order.

Mr. Rose recommends that the couple rent a place in Kensington Market. He warns of the risk of a correction in the housing market. He also cites a McMaster prof’s thesis that it’s often better to rent than buy due to generally better returns from other investments and the propensity for homeowners to spend more freely.

Kensington Market is a very multicultural community, Mr. Rose points out. More than 15 per cent of the residents speak Mandarin or Cantonese.

The market is also a “walker’s paradise” with loads of coffee shops, bars and restaurants. Theatres, museums or art galleries are all close by. Transit links are also good.

The level of crime is one area in which Kensington Market’s score is a bit diminished, says Mr. Rose, but he points out that illegal activity tends to run to break-and-enters, assaults and drug-related charges. More serious crimes such as sexual assaults, robberies and murders are not common compared with other, more dangerous neighbourhoods.

The lack of green space also detracts from the appeal a bit.

Still, Kensington Market offers lots of character, with writers and artists in residence and a large and busy Chinatown replete with Chinese food and goods of all kinds.

6. Don Mills

Jennifer Roberts/The Globe and Mail

For his assignment, Bowen Lin zeroed in on the neighbourhood of Don Mills. He believes it would suit his fictional subject, Joanne, and her husband, Leslie (Tang Yu) Chow, who expect to earn good salaries but live frugally. They are also fitness enthusiasts and grew up in families that often vote Liberal.

Don Mills offers a prosperous environment with plenty of public and private schools, Mr. Lin says. The immigrants of Don Mills are primarily from Asia, which should suit the couple well because they share this lineage. Compared with other areas of Toronto, a high percentage of the immigrants know English and/or French, according to Mr. Lin’s research.

The area provides plenty of walking trails and parkland, including Moccasin Trail Park, Duncairn Park, Southwell Park, Mallow Park, Talwood Park and Tottenham Park.

The crime rate is one of the lowest in the city, he adds, though break-and-enters do occur more often than in some parts.

Initially, the couple may face a long and time-consuming commute to downtown but that should get better because plans are in place to improve bike lanes and transit services.

Check out these easy ways to repurpose old home furnishings before you decide to toss them out. From a ladder display shelf to cabinet mantel decor, you will find a way to repurpose many forgotten household items.

Oversized, Vintage Message Board

Don't turn your back on an old mattress. Hang a mattress spring on the wall for a one-of-a-kind, oversized message board. Donna of Funky Junk Interiors cleaned the rust from the spring with a wire brush and treated it with a clear overcoat for a vintage look. Simple clothes pins hold up messages, and hangers keep other everyday items at hand.

Cottage-Style Display Shelf

When you think an item has no functionality, think again. Melissa Michaels of The Inspired Room placed a small, brightly colored stepladder on the wall to function as a display shelf and eye-pleaser. The weathered finish on the ladder paired with crisp white frames on the adjacent wall gives the room a classic cottage look.

Playful Kid's Dresser

If you don't like the look of an old dresser, update it with a bright color. Janell Beals of Isabella & Max Rooms painted a forgotten dresser with bright pinkish-red chalkboard paint for a playful look that works perfectly in a kid's room. The dresser allows kids to use their imaginations by drawing or writing anything they want on it, keeping the walls safe from any unexpected drawings.

Salvaged Home Office

This home office is filled with items from the junkyard. Sawhorses make up the legs of the desk, a wood pallet works as the desktop and an old ladder provides the framework. Donna used a garage storage unit and wood pallets as back support to create an industrial-style shelving unit to maximize storage space. Fill the shelves with vintage-inspired objects to finish the rustic look.

Cabinet Door Mantel Decor

Chalkboard Storage Container

Take an ordinary tea tin and transform it into a stylish storage container using chalkboard paint. Marian Parsons of Mustard Seed Interiors created this look by applying one coat of primer and two coats of chalkboard paint to the surface. "Fill the tin with office supplies, kitchen dry goods or bathroom toiletries," she says. Write on it with chalk for an easy, creative way to label the contents inside.

Practical Antique

A piece of old, unused furniture can become functional again with a little creativity. This Hoosier cupboard, popular in the early 20th century, was sitting in a woodshop for years. With some refinishing and paint, Janell Beals turned it into a practical home office desk. The crisp white cupboard against the black walls makes it the focal point of the room. The cupboard drawers allow for an abundance of storage space, and the size of the cupboard provides plenty of room for office equipment. "The piece not only adds to the design of the room but holds great memories as well," she says. Hang framed memorabilia to add to the timeworn look.

No Damage Here

Damaged furniture doesn't have to be thrown away. Marian Parsons suggests hiding imperfections on furniture with decoupage. She used aged sheets of music to hide imperfections on this neglected dresser, while also giving the all-white bedroom a shabby chic look. Other items great for decoupaging furniture are maps, book pages, letters and postcards. "The treatment will hide gouges, water marks, missing veneer and other signs of abuse on furniture," she says. Decoupaging furniture will also add dimension and distinct style to a room.

Headboard Rack

A vintage headboard is given new life as a hanging rack. Donna painted the headboard white and attached a rack with hooks, transforming the headboard into a towel or coat rack for guests. "Random house numbers are fun additions that add some graphic interest," she says. The rack is also a great place to hang keys and other everyday items.

Bright, Bold Focal Point

Sometimes a fresh coat of paint is all a piece of furniture needs to breathe new life into a space. Melissa Michaels painted this once-dull coffee table into an eye-catching royal blue color. "The unexpected pop of color is a fun contrast to its otherwise traditional lines," she says. The bold color makes the table the focal point in this mostly neutral living room.

From Tired to Stylish

Even the smallest, most outdated items can be repurposed with a little love. Marian Parsons updated a tired wood frame with decoupage using aluminum foil, antiquing glaze and polyurethane spray. The gold finish gives the framed chalkboard a contemporary, stylish look that works great resting on a dresser or hanging on the wall.

Wallpaper Table

Turn to unexpected materials to freshen up old furniture. Will Taylor of Bright Bazaar used scraps of old wallpaper samples and some paint to transform this dining table into a work of art. The different patterns and colors make the table a versatile piece of furniture that fits any room and style.

Frigid temperatures don't seem to be going away, but that's no reason to give up the outside activities

Michael Bracko loves to work out in the cold. The Canadian exercise physiologist (and an American College of Sports Medicine fellow) loves the feeling of cold air on his face and the sound of snow crunching under his running shoes. In fact, he has no problem going for a run when it’s 30 degrees below zero. He did it just a couple weeks ago in Calgary, Canada.

“As far as the temperature goes, if you are just warm enough and you are used to exercising, there is no temperature you can’t work out in,” he says.

That is, as long as you’re properly dressed. Exercising in the cold does come with some potential dangers. Below freezing temperatures mean higher risk of hypothermia, so it’s important to cover the most vulnerable body parts, like the tips of fingers and toes, and your nose and ear lobes. In the cold, the body has to work harder to keep blood flowing to these appendages, since the smallest vessels in the extremities tend to constrict  in order to keep blood in the body’s core for warmth. “Your fingers get so cold that they are so sore, red and swollen,” says Bracko. “The problem that can arise is that this can lead to a numbness, and the individual may not notice how cold they’re getting.

The only people who should be careful about continuing their outdoor exercise regimens in sub-zero temperatures are those with heart problems or asthma. Heart patients, and even people who suffer from angina, the chest pain that can indicate poor blood flow, can aggravate such blood flow problems in the cold. The same applies with people suffering from asthma, since the colder, drier air can irritate already sensitive airways. “Cold air in and of itself can cause exercise induced asthma,” says Bracko. “It’s really dehydrating and it can trigger an asthma attack.” Most exercise professionals recommend that people with health conditions stick to indoor activities when temperatures dip outside.

But for the rest of us, they say that cold weather shouldn’t be a deterrent to exercising outdoors. Wearing layers, and including synthetic fabrics instead of cotton, can transfer any perspiration from one layer of clothing to the next, keeping you warm and dry. It’s possible to overheat even in freezing temperatures, however, so it’s important not to overdo it and dress too warmly. If you’re too warm, you’ll sweat more and your clothing may not be able to wick away all the perspiration you generate. If that happens, when you take a break, all that moisture will quickly become cold make you feel chilled.

And if you still need convincing that venturing into the cold is worth it, there’s this — our moods tend to dip in the winter months since the days are shorter and we spend more time indoors. Getting a blast of crisp air and being active can counteract the blues. As long as you exercise smart, there’s no reason outdoor activity can’t be a part of your fitness regime — even during a polar vortex.

As temperatures hover below zero and snow blankets our driveways and sidewalks, heading outdoors may seem more like a chore than an afternoon of fun. While it’s tempting to curl up with a cup of tea until spring hits – likely in front of a TV or tablet – you’ll feel refreshed, energized and more fulfilled if you step outside with the kids.

Remember what it’s like to be a kid: Did the thermometer ever stop you from slipping on your matching hat, scarf and mitts and skipping out the door? Or were you too excited to toboggan or throw snowballs to worry about a little winter chill? This year, make the most of it and embrace your inner child. You’ll all be healthier for it, too, since being sedentary has now joined smoking and obesity as a risk factor for many diseases.

Here are a few winter activity ideas I share with the families I work with:

1. Get the right gear for the kids – and for you.

You’ve made sure the kids are wearing waterproof mittens, solid boots and snow pants–but what about you? Jeans alone will not do. Save that classic camel-coloured coat for the office, and zip up the warmest parka you can find. For added warmth, invest in hand and boot warmer products (your fingers and toes will thank you).

2. Embrace your inner child and play!

Now that you’ve bundled up, don’t just stand there and watch the kids play. Instead, start a snowball fight. Make a snow angel. Challenge them to a parent vs. kid snowman-building contest. Organize a scavenger hut, hiding fun, bright objects in the backyard (think snow shovels or even dig out the beach toys.) Allow yourself to play right along with them.

You can also create a fun daily routine on the walk to school. Every day, give yourselves an extra five minutes to jump and play in the snow. It will kick-start everyone’s morning and set the tone for a good day.

3. Tag-team it! Take turns heading outdoors.

If you really can’t stand the great winter outdoors, rotate with your partner. One of you can go outside and play with the kids, while the other can stay in and prepare warm drinks and special snacks for everyone to enjoy afterward.

4. Get involved in the community.

Research and experiment with community activities for the whole family. Find a local conservation area offering sleigh rides or strap on those skates and hit the city’s rink together. You’ll be glad you did. A favourite of mine is Evergreen Brick Works in Toronto. It’s the perfect public space for the whole family, offering an open skate, winter hikes, and crafts in The Children’s Garden.

You can also invite a few friends or neighbours over for play and a picnic! Outdoor play dates are great, and you can start by imagining a winter picnic. Use your sleeping bag as a blanket, fill your Thermos with hot chocolate, play a few games, and re-energize with lunch.

5. Get a little help with the chores.

Turn your dreaded outdoor chores into a learning experience for the kids. How about picking up pint-sized shovels and asking them to toil alongside you? Teach them about responsibility, and even offer a small reward if they help every week. Is there a neighbour who might need assistance from older kids? Encourage your kids to show kindness and shovel their walkway. What better way to mix exercise, education and community?

Now get outside, and enjoy the fluffy white snow with your family. Feel free to share your favourite winter activities in the comments below – I’d love to hear them.

A number of studies have shown that exercise can remodel the brain by prompting the creation of new brain cells and inducing other changes. Now it appears that inactivity, too, can remodel the brain, according to a notable new report.

The study, which was conducted in rats but likely has implications for people too, the researchers say, found that being sedentary changes the shape of certain neurons in ways that significantly affect not just the brain but the heart as well. The findings may help to explain, in part, why a sedentary lifestyle is so bad for us.

Until about 20 years ago, most scientists believed that the brain’s structure was fixed by adulthood, that you couldn’t create new brain cells, alter the shape of those that existed or in any other way change your mind physically after adolescence.

But in the years since, neurological studies have established that the brain retains plasticity, or the capacity to be reshaped, throughout our lifetimes. Exercise appears to be particularly adept at remodeling the brain, studies showed.

But little has been known about whether inactivity likewise alters the structure of the brain and, if so, what the consequences might be.

So for a study recently published in The Journal of Comparative Neurology, scientists at Wayne State University School of Medicine and other institutions gathered a dozen rats. They settled half of them in cages with running wheels and let the animals run at will. Rats like running, and these animals were soon covering about three miles a day on their wheels.

The other rats were housed in cages without wheels and remained sedentary.

After almost three months of resting or running, the animals were injected with a special dye that colors certain neurons in the brain. In this case, the scientists wanted to mark neurons in the animals’ rostral ventrolateral medulla, an obscure portion of the brain that controls breathing and other unconscious activities central to our existence.

The rostral ventrolateral medulla commands the body’s sympathetic nervous system, which among other things controls blood pressure on a minute-by-minute basis by altering blood-vessel constriction. Although most of the science related to the rostral ventrolateral medulla has been completed using animals, imaging studies in people suggest that we have the same brain region and it functions similarly.

A well-regulated sympathetic nervous system correctly directs blood vessels to widen or contract as needed and blood to flow, so that you can, say, scurry away from a predator or rise from your office chair without fainting. But an overly responsive sympathetic nervous system is problematic, said Patrick Mueller, an associate professor of physiology at Wayne State University who oversaw the new study. Recent science shows that “overactivity of the sympathetic nervous system contributes to cardiovascular disease,” he said, by stimulating blood vessels to constrict too much, too little or too often, leading to high blood pressure and cardiovascular damage.

The sympathetic nervous system will respond erratically and dangerously, scientists theorize, if it is receiving too many and possibly garbled messages from neurons in the rostral ventrolateral medulla.

And, as it turned out, when the scientists looked inside the brains of their rats after the animals had been active or sedentary for about 12 weeks, they found noticeable differences between the two groups in the shape of some of the neurons in that region of the brain.

Using a computerized digitizing program to recreate the inside of the animals’ brains, the scientists established that the neurons in the brains of the running rats were still shaped much as they had been at the start of the study and were functioning normally.

But many of the neurons in the brains of the sedentary rats had sprouted far more new tentacle-like arms known as branches. Branches connect healthy neurons into the nervous system. But these neurons now had more branches than normal neurons would have, making them more sensitive to stimuli and apt to zap scattershot messages into the nervous system.

In effect, these neurons had changed in ways that made them likely to overstimulate the sympathetic nervous system, potentially increasing blood pressure and contributing to the development of heart disease.

This finding is important because it adds to our understanding of how, at a cellular level, inactivity increases the risk of heart disease, Dr. Mueller said. But even more intriguing, the results underscore that inactivity can change the structure and functioning of the brain, just as activity does.

Of course, rats are not people, and this is a small, short-term study. But already one takeaway is that not moving has wide-ranging physiological effects. In upcoming presentations, Dr. Mueller said, he plans to show slides of the different rat neurons and, echoing the old anti-drug message, point out that “‘this is your brain.’ And this is your brain on the couch.”

Preliminary December sales data from several cities indicate Canada’s housing market is entering the new year in solid shape, with prices again showing more strength than economists expected.

After the protracted sales slump that hit the market in the summer of 2012, economists were surprised by the degree to which it rebounded during the latter half of last year. The spring market got a jolt from falling mortgage rates and, ironically, sales got an even bigger boost in the late summer and early fall from rising mortgage rates – which spooked some buyers into jumping into the market before rates rose further.

Changes in home prices typically lag changes in home sales, and so despite the pickup in sales, economists were still expecting that the lengthy downturn would eventually slow price growth down to a trickle. But it hasn’t.

“Prices have been much stronger than we anticipated them to be,” said Toronto-Dominion Bank real estate economist Diana Petramala.

A few large cities have now released data for December, which is traditionally a relatively slow month, and the figures point to a market that is far from a runaway train but continues to hold up better than anticipated.

The benchmark price of a single family home in the Calgary area is now $472,200, up 8.6 per cent from a year earlier. The benchmark in Vancouver is $603,400, up 2.1 per cent from a year earlier despite that city registering the steepest market correction in the past two years. The average price of homes that sold over the Multiple Listing Service in the Toronto area last month was $520,398, up by 8.9 per cent from the average selling price in December, 2012. The average selling price in Toronto for all of 2013 was $523,036, up 5.2 per cent from the average in 2012.

Economists had been expecting the large supply of condos that are coming on stream in cities such as Toronto to weigh significantly on prices, Ms. Petramala said. While that hasn’t happened so far, she expects that it will over the next two years, noting that the number of condo units scheduled to be finished in Toronto this year is more than double historical levels.

“Heading into 2014, 2015, as some of these condos start to come on the market we should see price pressure ease,” she said. She expects national home prices to grow by about 2 to 4 per cent over the next five years.

“According to pure economics, we should be seeing prices softening,” said Canadian Imperial Bank of Commerce economist Benjamin Tal. “The fact that it is not happening suggests the market is more resilient than we thought.”

The full national housing picture won’t be known until the Canadian Real Estate Association discloses national numbers later this month – smaller cities and towns have not seen the same sales momentum as the country’s urban centres of late – but the number of homes that changed hands in 2013 is now expected to come in slightly above 2012, defying expectations at the outset of 2013 that the market would register a decline.

Bank economists here shrug off a recent report by New York-based Deutsche Bank economists who say that Canada’s house prices are 60 per cent too high and that “Canada is in trouble.” There is widespread acknowledgment that house prices here are too high, but the severity of the overvaluation and the impact it will have are hotly debated.

“Saying that some pockets of the national housing market are overvalued by 20 or 25 per cent is not a stretch,” Mr. Tal said. “But that doesn’t mean that they’ll go down by 20 or 25 per cent.”

If price growth peters out or dips a bit while incomes and employment remain strong over a period of time, the situation could right itself, resulting in the soft landing that the central bank and federal Finance Minister continue to expect.

The number of homes that sold over the MLS in Toronto last month came in almost 14-per-cent higher than a year earlier, a level that is about 5-per-cent above the 10-year average according to Ms. Petramala. Calgary saw an 8-per-cent year-over-year increase in sales. Vancouver, where sales plunged the hardest in 2012, saw a 71-per-cent year-over-year gain, with its sales coming in 8.1 per cent above the 10-year average.