Average home prices have been on the rise across Canada from March to April, but one market in particular has led the pack with its gains.
Prices in Calgary rose 6.87 per cent, while MLS sales in the city saw an 8.9 per cent increase, according to a report from CREA.
Overall, Canadian house prices have increased by 0.2 per cent year-over-year from March to April, which exceeded the original expectation of a 0.1 per cent increase. The year-over-year rate remained steady at 2 per cent.
Also on the rise were the Vancouver and Victoria markets in British Columbia, which saw monthly gains of 0.1 per cent. Despite that, these two markets have experienced year-over-year drops of 0.6 and 1.5 per cent, respectively.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate