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Update on Canada’s Housing Market

Thanks to Toronto, Canadian housing market has grained strength despite falling prices in one of the country’s largest hubs, Vancouver, Brattish Columbia. The average prices of homes sold in Toronto was up 8.4 percent this April to $517,556 while Vancouver’s was down almost 10 per cent to $735,315. The average home prices in Canada went up 0.9 percent from last April to $375,810.

On the sales front, April’s seasonally adjusted sales according to Canadian Real Estate association (CREA) gained 0.8 percent over the previous month. The same report indicates an increase of 11.5 percent increase in sales from April of 2011 (49,480 total homes sold this April compared to 44,370 sold last April).

 

source: Metro

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