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Analysts seeing improvement in Windsor housing market

Windsor, Canada, has experienced an increase in home sales that analysts are expecting to continue.

Windsor, Canada, has experienced an increase in home sales that analysts are expecting to continue.

Analysts are starting to see improvements in the North American housing market one city at a time, after three years in which the economy depressed home sales.

According to the Windsor-Essex County Real Estate Board, October home sales were 12.8 percent higher than last year in the Windsor, Canada, area, the Windsor Star reported.

“The real estate market does look like it’s starting to turn the corner in the city after a long period of, frankly, being the weakest in the country or one of the weakest in recent years,” Douglas Porter, deputy chief economist for BMO Capital Markets, told the Windsor Star. “It does look like it’s turned the corner, which is an important milestone for confidence in the city.”

The prices of homes in the area are also up 5 percent from the previous year, the source reported.

Porter told the Star that he expects another 3 to 6 percent increase in home prices in the city as the market starts to pick up.

A new bridge that will connect Windsor with Detroit, Michigan, is planned, which may increase the number of homes sold in both cities.