While we await next week’s report from the Canadian Real Estate Board for a broad picture of the market, some local boards have already released data that shows little sign of a cooling market.
With high prices, low mortgage rates and consumer confidence creeping up, the markets have been red hot after the winter freeze.
In Montreal there has been an uptick in June of between 2 per cent for single-family homes and 8 per cent for condos. On the Island of Montreal were up 10 per cent. Overall, Montreal sales increased 3 per cent from last year.
In Toronto the year-over-year rise has been 15.8 per cent, with prices up 7.4 per cent and the average home selling in just 22 days. Vancouver has seen a yearly increase of 28.9 per cent; June’s figures beat the 10 year average after a 3.7 per cent rise from May.
Calgary’s year-over-year growth in sales has been 15.78 per cent with its 10 year average beaten by 18 per cent. Ottawa (4.3 per cent) and Edmonton (3.5 per cent) saw more modest growth; while Regina has seen a 9 per cent drop in sales from this time last year.
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