Statistic Canada released information today, stating that home prices in Toronto gained 0.3 per cent from August to September.
Re/Max conducted their own study and found some interesting results. The Re/Max study was based on 16 major house markets (including GTA, Vancouver and Calgary) across the country. Between the years of 2000 to 2010 the value of Canadian homes has doubled. Back in 2000, the average home was worth $163,951 and 10 years later the nation’s average of studied homes was worth $339,030. The study also showed that condos have become more and more popular as freeholds become less affordable
It’s not surprise that the Canadian Real Estate Association has boosted their forecast for sales activity for 2010. According to CREA, 397,561 units have been sold this year to date. This is up 1.8 per cent from the levels in the first ten months of 2010
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