Canadian home sellers finally came out of hibernation in March,
Says Royal LePage president and CEO Phil Soper. In some of the country’s large key markets, a lack of inventory of homes listed for sale, has been a persistent issue throughout the winter of 2013-2014. Figures due out this week from the Canadian Real Estate Association will, if Soper is right, verify that listings have finally come to this year’s spring market – albeit much later than usual.
The Royal LePage House Price Survey, published last week, paints a picture of rising average home prices in Canada over the past year. The survey results are an aggregation of opinions of fair market value by Royal LePage real estate professionals on homes located in 250 neighbourhoods across 90 communities in Canada. The survey shows that, depending on housing type, average year-over-year price gains ranged between 2.5% and 5.4%. In the past year, average two-storey homes rose 5.4% to $428,943, bungalows rose 4.4% to $380,765 and condominiums increased 2.5% to $252,174. Cities leading the way in price gains include Toronto, Winnipeg, Calgary and Edmonton. Atlantic Canada recorded the smallest gains over the past year.
Original article from: http://www.mcap.com/residential/brokers/mortgagenews?