Canadian resale home prices increased in October

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By Elli Davis, January 1, 2010

Up by Matt Gibson

According to a report released on Wednesday, resale prices for Canadian homes increased for a sixth month in a row in October 2009. The House Price Index by Teranet National Bank shows that resale prices rose by 1.3 percent from September to October. This is actually the first annual rise in ten months - from October 2008, the prices increased by 0.6 percent.

Gains from September to October 2009 were documenbted in all of the six big surveyed markets. Vancouver market had the best result, 1.8 percent gain, followed by Toronto with increase as high as 1.6 percent. The next one was Calagary, with 0.8 percent rise. In Halifax, the increase was 0.4 percent and in Ottawa, same as Montreal, it was 0.3 percent.

Great results indeed! Toronto seems to be doing pretty well, too! The close second best place is nice. And overall, this rise is another proof that Canadian housing market keeps getting better. Let's hope the trend will continue in 2010.