Average Canadian house price soared 18% in past year, CREA says

Author: External Author | | Categories: First Time Home Buyer , Home buying , Interest Rates , Mortgage Broker , Mortgage Refinancing , Mortgage Services , Purchasing

Canada's housing market continued its improbable run in August, as average prices jumped by almost 20 per cent from where they were a year earlier, and the number of homes sold shattered the monthly record.

The Canadian Real Estate Association, which represents more than 130,000 Realtors across the country, said Tuesday that 58,645 homes were sold during the month, which is 33 per cent more than changed hands in the same month last year. It's also more than six per cent more than the number of homes that sold in July, which was itself a record for the month.

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Original Article Source Credits:   CBC News , https://www.cbc.ca/

Article Written By:  Pete Evans 

Original Article Posted on:   Sep 15, 2020

Link to Original Article:  https://www.cbc.ca/news/business/crea-house-price-1.5724433