Industry News

Real estate prices set record in Canada

Major-market home values up nearly 14% from a year ago

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Despite a slowing in real estate sales in Canada's major markets during April, prices reached their highest level on record, according to the Canadian Real Estate Association. The tight resale housing market saw the major market MLS residential average price in April rise 13.7 percent (year-over-year) to $246,614. The year-over-year rise in MLS residential average price was its biggest in two years. The MLS average price also topped all previous monthly records in a number of major markets, including Vancouver, Edmonton, Toronto, London, Ottawa and Montreal Canada's major-market home sales in April via the Multiple Listing Service totaled 27,867 units on a seasonally adjusted basis, down 0.9 percent from March, according to the latest association figures. Despite the decrease, activity remained near record-level highs. Sales for the first four months of the year surpassed all previous year-to-date records in a number of major markets, including Vancouver, Edmonton, Toronto, and S...