Aug 25, 2010
There’s lots of chitter-chatter that Canadian real estate is about to tank. However, newly released stats indicate prices keep rising.
According to Teranet’s House Price Index, released on Wednesday, Canadian home prices in June were up 13.6% from last year. Canada’s biggest hitting cities were Vancouver, up 16.3% and Toronto, up 16.2%.
Canada home prices have now risen for 14 straight months with June prices up 1.5 per cent from the month before – the largest monthly increase since last August.
It appears that although sales volumes are dipping, inventory is scarce and homeowners are holding their assets.
Check out the below graph showing Toronto’s home price gains – steep rise…