Why real estate is hot in Sudbury

As hot as Canada's real estate market has been, it's been heating up even faster in communities that are participating in the commodities boom. And with oil cracking $80 (U.S.) a barrel, wheat hitting a nine-year high and gold soaring above $720 an ounce to its highest level in decades, the boom is gathering speed. The resource-driven real estate boom isn't just a Western phenomenon, with the mining centre of Sudbury, Ont., cracking the country's top five metropolitan centres in July in terms of housing price gain. The price of a resale home there is up almost 23 per cent to nearly $180,000, according to the Canadian Real Estate Association (CREA).