Canada’s resale housing market staying strong!

Price increases year over year

As Yahoo has reported in their story titled “Canada home resales dip from July, up from year ago” sales and prices of existing homes have increased in August of 2009 as compared to the same month last year. This represents a strong housing market from coast to coast with Nineteen of the 25 major markets that CREA (Canadian Real Estate Association) tracks showed increased sales activity. The greater Vancouver area showed the largest increase with a jump of 117% in year over year sales increases. CREA said The industry group said a total of 42,483 homes changed hands in August of 2009 across the country, up 18.5% from the same month last year. The average price rose 11.3 percent from August 2008 to $324,779. Last month, CREA revised its 2009 residential property outlook, saying that home prices will likely rise and should stabilize. Good news for homeowners! If you have any general questions about real estate in the Halifax or about your area specifically you can contact me Here or call me directly @ 441-7714. I look forward to hearing form you!

Tagged as: canadian real estate, canadian real estate market