Existing Home Sale Prices Rise Across Canada

According to The Canadian Real Estate Association (CREA), listed existing homes recorded their best December ever, as the recovery in the Canadian housing market sales climbed 7.7 per cent last year from 2008.

There were a total of 27,744 units sold across Canada in December, up 72 per cent from a year earlier.

Average sale price of existing homes over a one year period throughout Canada:

December 2009

BC – $495,903
Alberta – $350,896
Saskatchewan – $240,271
Manitoba – $201,722
Ontario – $331,410
Quebec – $235,904
New Brunswick – $148,559
Prince Edward Island – $131,227
Nova Scotia – $200,194
Newfoundland – $231,107

December 2008

BC – $429,210
Alberta – $328,082
Saskatchewan – $220,351
Manitoba – $180,403
Ontarion – $280,049
Quebec – $217,716
New Brunswick – $141,648
Prince Edward Island – $161,050
Nova Scotia – $182,638
Newfoundland – $205,805

Due to low interest rates, CREA forecasts that the national home sales activity is expected to remain strong in the first half of 2010. Although interest rates are expected to rise, they will still be low enough to keep affordability within reach for many homebuyers requiring mortgage financing, and support overall housing demand.

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