Home resale prices across Canada recorded the biggest jump in two years, rising for a seventh consecutive month in June 2011.
According to Teranet*, which tracks property values of homes sold more than two times, prices rose 4.52% in only one year.
The national pricing index is now at 144.67; the index mark of 100 started in June 2005. Home prices have been on a steady rise ever since.
The only exception was Calgary, Alberta; home prices there were down 2.7% from a year ago.
The biggest year-to-year rise was in Toronto, which is not surprising. The Toronto index was up 2%, reaching 131.26. And another unsurprising riser was Vancouver, which rose a whopping 7.2% since 2010, reaching an index level of 167.77.
Here is a pretty list of the pricing index in all six major cities.
Geographical Index by City
So what do you think about the home pricing situation? Do you think there is a bubble here that is about to burst, especially considering what is currently going down around the world regarding debt?
Whether you want to sell your home are in the market to buy one, visit ComFree.com today.
*The Teranet – National Bank House Price Index™ is an independent representation of the rate of change of Canadian single-family home prices. The measurements are based on the property records of public land registries, where sale price is available.