May 26, 2010
The Teranet House Price Index has released its monthly ‘Communiqué’ and the numbers are impressive. Keep in mind that this report is probably the most accurate measurement of Canadian house prices available.
According to the report, Canadian home prices in March were up 11.6% from a year earlier. The average was propelled by Toronto, up 15.5% and Vancouver, up 14.4%. So, if you purchased a home in Toronto or Vancouver in March 2009 you bought at the right time!
However, month-over-month increases have recently decelerated considerably. Month-over-month price increases for Canadian homes from January to February and February to March were small, 0.2% and 0.3%.
Check out the full report at House Price Index.