The national average home price rose in October but the impact of Canada’s two largest markets is continuing to influence Canada-wide numbers, according to the Canadian Real Estate Association.
[np_storybar title=”Toronto and Vancouver home prices pass Rome and close in on Paris” link=”http://business.financialpost.com/2014/11/05/toronto-and-vancouver-home-prices-pass-rome-and-close-in-on-paris/”]Canada’s two priciest cities for homes can now be included in an international class that is attracting foreign investors from around the world, says a new real estate study. Find out more
Across the countries prices were up 7.1% from a year ago to an average of $419,699. Once Toronto and Vancouver are removed, the annual gain slips to 5.4% and the average sale price for October drops to $330,596.
“Low interest rates continued to support sales in some of Canada’s more active and expensive urban housing markets and factored into the monthly increase for national sales,” said Beth Crosbie., president of CREA, in a statement…
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