Investing.com - Financial Markets Worldwide
⏳ Final hours! Save up to 60% OFF InvestingProCLAIM SALE

UPDATE 1-Vancouver, Toronto drive Canadian house prices higher

Published 2016-03-15, 09:50 a/m
© Reuters. UPDATE 1-Vancouver, Toronto drive Canadian house prices higher

(Adds regional details, quote)
TORONTO, March 15 (Reuters) - Sales of existing Canadian
homes rose 0.8 percent in February from the prior month, with
price hikes in Vancouver and Toronto pulling the national
average higher, a report from the Canadian Real Estate
Association showed on Tuesday.
The industry group said its Canadian home price index was up
8.5 percent in the month from a year earlier, its largest gain
since June 2010, while actual sales not seasonally adjusted rose
18.7 percent from February 2015.
The national average sale price rose 16.4 percent on a
year-over-year basis, but excluding British Columbia and Ontario
it declined by 1.4 percent.
"Two of Canada's hottest housing markets look set to stay
that way heading into the spring home buying season," CREA's
president, Pauline Aunger, said in a statement. "Meanwhile,
other major urban markets elsewhere in Canada are well balanced
or have ample supply."
The number of newly listed homes edged up 0.5 percent in
February from January, pushed higher by listings around
Vancouver and Toronto, while listings declined in Calgary,
Montreal, and central Toronto.
The average price of a Canadian home sold in February, not
seasonally adjusted, was C$503,057 ($376,793.50). Excluding
Vancouver and Toronto, the average was C$355,235.
($1 = 1.3351 Canadian dollars)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.