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Real Estate Prices in Canada Still Going Up

December 14, 2006 by Benjamin Bach · 1 Comment

via http://www.inman.com/inmannews.aspx?ID=60137

The Canadian Real Estate Association reported today that a seasonally adjusted 27,630 homes were sold via the Multiple Listing Service in the nation’s major markets in November 2006, down 5.6 percent compared to November 2005 and up 1.5 percent since October 2006.

For the first 11 months of the year, unit sales via the MLS in Canada’s major markets dropped 0.2 percent compared to the same period last year, while the average price of homes for the first 11 months of this year rose 10.7 percent compared to the same period last year.

The seasonally adjusted number of new listings, meanwhile, rose 4.7 percent for the first 11 months of the year compared to the same period last year.

The November 2006 average price, at $257,488 (in U.S. dollars at the current conversion rate) was 9.4 percent higher than the November 2005 average price.

Benjamin Bach is a Real Estate Consultant with Keller Williams Golden Triangle Realty in Kitchener Waterloo dedicated to building wealth for his clients through smart Real Estate investments, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions about buying or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.