Resale Home Prices in Canada

By Elli Davis, February 24, 2010

Home prices in Canada by Mike Gifford

According to the report by Teranet-National Bank Composite House Price Index released on Wednesday, Canadian home resale prices rose for an eighth month in a row in December 2009. The report tracks price changes for repeat sales of single family homes in six metropolitan areas and it claims that overall prices grew by 1.2 percent from November to December.

The prices went up in 5 out of six evaluated metropolitan areas. More than 1 percent increase was reported in Toronto (1.2 percent), Vancouver (1.3 percent), Calgary (1.6 percent) and Montreal (1.1 percent). There was rise in Ottawa too, by 0.4 percent. On the opposite side, in Halifax, there was a 1.9 percent decrease in the last month of 2009.

If compared to December 2008, the overall prices this past December rose by 5.2 percent. In Toronto, the increase was as high as 7.1 percent; it was 5.1 percent in Vancouver, 6.2 percent in Ottawa, 5 percent in Montreal, 2.9 percent in Halifax and 0.1 percent in Calgary. The biggest rise was in Toronto, good. I’m sure I’m repeating myself, but aren’t all these positive news just fabulous?

Posted in Toronto Real Estate News | No Comments »