Higher Home Prices

By Elli Davis, May 27, 2010

almost fully recovered economy
photo by Erin

Another report about the continuation of the rising prices of homes in Canada! Teranet National Bank Composite House Price Index shows that in March 2010, home prices were 11.6 percent higher than in the same month just a year ago. From February 2010, the growth was not great, just 0.3 percent, which demonstrates an almost fully recovered economy.

As with every month since February 2000, the Composite House Price Index followed property prices of six cities in Canada – namely Toronto, Vancouver, Calgary, Montreal, Halifax and Ottawa. If comparing February and March of this year, the rises were the most significant in Halifax, Montreal and Vancouver. In Toronto, they were about the same and the only drop was Calgary.

Actually, Calgary is the only tracked city in which the prices are currently lower than they were before the bad period started back in 2008. Let's hope the rest of 2010 will be more successful for the city and let's also hope that Toronto will not follow Calgary's bad example.

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