Thursday, June 15, 2006

The Average Price Of A Canadian Home In Now More Than $300,000

WOW. All I can say is WOW.

The average price of a Canadian home in now more than $300,000. In Canada housing prices are moving so fast in the major markets that low income housing is becoming a thing of the past. In Calgary, where housing prices have risen 43.6 percent since last May, they cannot build enough new houses, and in the process are eating up land by the hectare. has the full article on home prices in Canada.

The Canadian Real Estate Association has statistics for the month of May. Across Canada raw data shows a rise in homes sold via the MLS service. Get ready for it. MLS sold 37,460 units. The dollar value of these units sold is over 11.3 Billion Dollars. The number of units sold only rose marginally, yet the increase in real estate prices saw the dollar value rise from 9.6 Billion dollars a year before. That equates to about an 18 percent increase in value of the units sold.

Maybe global warming is heating up the real estate market.

1 comment:

Anonymous said...

I though there was a housing bubble?