The Canadian Real Estate Association (CREA) has released its monthly sales statistics and national home sales increased by one per cent from January to February 2015. Greater Vancouver, the Okanagan region, and Greater Toronto led the nation’s sales while over half of other local markets posted declines.
In the fourth quarter of 2014, average home prices for most real estate markets across the country indicated healthy year-over-year gains, according to the latest Royal LePage (RLP) House Price Survey. The average price of a Canadian home increased between 4.5 per cent and 6.7 per cent from the same period in 2013. Condominiums saw a 4.5 per cent gain in pricing, reaching an average of $257,624.