This Is Where House Prices Are Rising And Falling Across Canada

The overall average house price grew 3.1 per cent in the year to January, to $401,143

Home sales in Canada fell for the third month in a row in January, signalling the likely end of a hot run for real estate as lower oil prices cool the country’s economy.

House prices are now falling in about half of the metro areas surveyed by the Canadian Real Estate Association in its latest report.


The overall average house price grew 3.1 per cent in the year to January, to $401,143. That’s the smallest increase since April, 2013, but it’s largely a story of two still-hot housing markets: Toronto and Vancouver. Strip out those two cities and average house prices are down 0.3 per cent over the past year.

Home sales, meanwhile, are 2 per cent lower than they were a year ago, CREA numbers showed.


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Gregory Klump- Chief Economist, CREA, discusses CREA Housing Market Report 1st ed. 2015

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