Low Supply and Interest Rates Lead to High Home Prices

The average home price in Canada continued to trend higher in October as housing supply fell to a fresh record low. The Canadian Real Estate Association reported the average sale price at $607,250 for the month, an increase of 15.2% from a year earlier.Removing the high-priced markets of Toronto and Vancouver, the national average price was $480,250, up 19.5% from a year ago.

Source: Record-low Supply and Interest Rates Fuel Record October Home Prices

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