Canada’s Top 3 Real Estate Markets For Price Growth Each Climbed Over $250k
Canadian real estate prices show no sign of slowing down, even going into the winter. According to the Canadian Real Estate Association (CREA), prices jumped by tens of thousands in November. Not in one or two extraordinary markets either, but right across the country. Home prices have increased well over six figures since last year. Values are rising by more than the annual income of a typical family that lives in a typical home.
Canadian Real Estate Prices Increased Over $20,000 Last Month
Canadian home prices are surging higher right across the country. A composite benchmark (a.k.a. typical) home reached $790,600 in November, up 2.7% ($20,785) from a month before. Compared to a year before, prices are now up a whopping 25.3% ($159,634). It was a record for both price and annual growth last month. Keep in mind that this is a typical home price across the country. Many individual markets are growing even faster.