Canada Home Prices Have Biggest Gain in 2 Years

Home resale prices across Canada recorded the biggest jump in two years, rising for a seventh consecutive month in June 2011.

Canada home pricing index 2011

Canada home pricing index 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.

Toronto home prices rise highest in 2011

Toronto home prices rise highest in 2011

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

Toronto 42%
Vancouver 23.6%
Montreal 17%
Calgary 10%
Halifax 1.8%

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 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.

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