Canada’s May home resale prices up for 13th straight month, but not likely to be sustained
Filed Under Main Content · Tagged: Ahead, Canada, House Price, Last September, National Bank, Pace, Price Index, Recession, Resale Prices, Rose 13, Survey, Teranet, Toronto, Vancouver Sun
Vancouver Sun- Canadian home prices rose 1.3 per cent in May, their largest monthly gain since last September, but are unlikely to keep up the pace in months ahead, according to the Teranet-National Bank composite house price index, released Wednesday.
On an annual basis, prices rose 13.6 per cent and are now 4.2 per cent higher than their pre-recession peak.
Prices have now advanced for 13 straight months, the survey showed.
The yearly gains were strongly influenced by advances in Canada’s major markets, with Vancouver up 17.1 per cent year over year and Toronto up 16 per cent…
Canada’s May home resale prices up for 13th straight month, but not likely to be sustained
Home sales continue to drop
Filed Under Main Content · Tagged: Adjusted Basis, Calgary, Canadian Real Estate, Canadian Real Estate Association, Existing Home Sales, First Quarter, Mortgage, Ottawa, Rapid Decline, Real Estate Association, Record Sales, Toronto
Financial Post- Existing home sales continued their rapid decline last month with 70% of markets showing a drop in sales in June from May, according to the Canadian Real Estate Association.
The Ottawa-based group, which has 100 boards across the country, said sales were off 8.2% from a month ago on a seasonally adjusted basis. Toronto and Calgary led the decline.
CREA said tighter mortgage rules and rising rates are slowing the market which declined 13.3% from first quarter which had close to record sales.
"As expected, these two national factors contributed to a widespread decline in activity, with transactions down in all but a dozen or so smaller markets," said CREA…
New-home prices fall in Victoria, up in Canada
Filed Under Main Content · Tagged: Analyst Expectations, April, Greater Victoria, Housing Prices, London, New Homes, Oshawa, Previous Year, Regina, Rose, Statistics Canada, Times Colonist, Toronto, Victoria Canada, Windsor
Times Colonist- National new housing prices rose for the 11th straight month in May, advancing 0.3 per cent compared to the month before and in line with analyst expectations, Statistics Canada reported yesterday.
Prices slid, however, for new homes in Greater Victoria, which dropped 0.4 per cent in May from April, and down 3.9 per cent in May compared to the same month the previous year.
In the capital region, the number of unsold properties has reached 4,700 and sales slowed last month to 625.
Prices also fell month-over-month in Kitchener, Ont., down 0.8 per cent, Windsor, down 0.2 per cent and London, off 0.1 per cent.
Monthly gains were led by Regina, where prices advanced 3.4 per cent, and Toronto and Oshawa, where prices rose 0.7 per cent…
New-home prices fall in Victoria, up in Canada
House prices and sales to decline, market survey says
Filed Under Main Content · Tagged: Bungalow, Canada, Condominiums, Home Price Appreciation, House Price, House Prices, House Sales, Market Survey, Price Survey, Rose, Royal Lepage, Second Quarter, Times Colonist, Toronto, Vancouver
Times Colonist- House prices continued to climb higher across Canada in the second quarter of 2010, but sales and prices are expected to fall in the coming months, according to a Royal LePage House Price Survey and Market Forecast released Wednesday.
In the second quarter of 2010, the average price of a detached bungalow in Canada was up nine per cent to $331,868 compared to a year ago. Two-storey homes rose 8.7 per cent to $367,835 and condominiums rose 7.3 per cent to $230,014. Average prices in Vancouver were up 16.6 to 19.1 per cent for the month while prices in Toronto rose by an average of 7.7 to 11.4 per cent.
The survey said by the end of 2010, home price appreciation will average 6.8 per cent year-over-year nationally, while home sales will increase by just over one per cent compared to 2009…
