Canadian home sales climbed in February after a soft January and price gains picked up speed, confirming the country’s housing market remains buoyant and a potential concern for bubble-wary policymakers.
February existing home sales in Canada grew by 1.4% from a month earlier, Canadian Real Estate Association data showed on Thursday.
Sales had fallen 4.5% in January from December.
The industry group said sales were up 8.6% from a year earlier, compared with a 4% gain in January. The annual numbers were not seasonally adjusted.
The national average home price rose 2% on a year-over-year basis to $372,763 in February, compared with a 1.2% gain in January. Read More…
Actual (not seasonally adjusted) activity stood 1.6 per cent above levels in March 2011, the smallest year-over-year increase since last April. It reflects moderate gains in a number of major centres, including Toronto, Calgary, Montreal, Ottawa, and Quebec City. Increases in these housing markets offset larger declines in Vancouver and the Fraser Valley, where activity last year ran at unusually strong levels.
I wonder what the youngest age to start to look to invest in home ownership.
I am only 19 but would like to invest now despite not having enough assets to own one.
Its great that prices are going up and now if banks mortgage rates can come down it would be a boon right now.
I can tell you it is true. I sold one of my homes for a good profit here in Toronto and i wish i held out for a little longer.
Canada still needs to offer more incentives for first time buyers. The current credit is not enough. I still have no interest in buying despite the rising prices.
To this day i still see no reason for people to buy a home compared to renting. Crazy to me.
I still think we are in a bubble and prices will fall again shortly. Be warned!
Yea but the best houses to buy are still in Vancouver. What about the rest of us in the country? 🙁
It’s about time. I was starting to think to invest in the US since prices here were so flat.