Record-low Supply and Interest Rates Fuel Record October Home Prices

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

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The average home price in Canada continued to trend higher in October as housing supply fell to a fresh record low.

The Canadian Real Estate Association reported the average sale price at $607,250 for the month, an increase of 15.2% from a year earlier.Removing the high-priced markets of Toronto and Vancouver, the national average price was $480,250, up 19.5% from a year ago.

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Original Article Source Credits:   CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By:  Steve Huebl

Original Article Posted on:  November 17, 2020

Link to Original Article:  https://www.canadianmortgagetrends.com/2020/11/record-low-supply-and-interest-rates-fuel-record-october-home-prices/



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