SOME CANADIAN CITIES SEEING HEALTHY HOME PRICES

Jan 14, 2014

By Michael Kramer

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Canadian home prices in some cities are showing robust health.

Prices in December returned to their all-time high of October – driven by gains here in Toronto and in Edmonton and Vancouver.

But the Teranet National Bank House Price Index shows the majority of the 11 cities that the index tracks have seen prices edge down in recent months.

As an example – December was the sixth month in a row that Montreal failed to see a price increase.

In Toronto prices rose 0.4 per cent from November and are now almost back up to the peak that they reached last August.

The average price on the Multiple Listing Service for homes sold in the Toronto area during December was just over $520,000. And the average selling price in Toronto for all of 2013 was a little over $523,000. That’s up 5.2 per cent from the average in 2012.

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