{"id":16545,"date":"2016-01-16T11:18:30","date_gmt":"2016-01-16T16:18:30","guid":{"rendered":"http:\/\/olduvai.ca\/?p=16545"},"modified":"2016-01-16T11:18:30","modified_gmt":"2016-01-16T16:18:30","slug":"average-canadian-house-price-up-another-12-to-454342","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=16545","title":{"rendered":"Average Canadian house price up another 12% to $454,342"},"content":{"rendered":"
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Average Canadian house price up another 12% to $454,342<\/a><\/h3>\n<\/div>\n

But if B.C. and Ontario are stripped out, average house price declined by 2.2% last year<\/strong><\/p>\n

\"Hot<\/p>\n<\/div>\n<\/div>\n

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Hot markets in Toronto and Vancouver are skewing the national average price of a Canadian home higher, CREA says. (Daniel Acker\/Bloomberg)<\/p>\n<\/div>\n<\/div>\n<\/div>\n

The average price of a Canadian home increased by 12 per cent in the year up to December and is now worth\u00a0$454,342, the Canadian Real Estate Association says.<\/p>\n

As it has done for a while, the realtor group says Toronto and Vancouver are skewing the national average higher. But if those two cities are stripped out, the national average drops to $336,994 while the annual gain is still 5.4 per cent.<\/p>\n

“Leading the charge was\u00a0Vancouver, where we have run out of superlatives to describe just how wild its market is,” BMO economist Sal Guatieri said. “[Vancouver] sales were up 33.7 per cent\u00a0in December and benchmark prices vaulted\u00a018.9 per cent.”<\/p>\n

‘We have run out of superlatives to describe just how wild [Vancouver’s]\u00a0market is’<\/span>– Sal Guatieri, BMO<\/cite><\/p><\/blockquote>\n

Indeed, those two cities are masking a housing market that is now getting cheaper\u00a0on a national level.\u00a0If the entire provinces of British Columbia and Ontario are stripped out, the average Canadian home was worth\u00a0$294,363 in December \u2014\u00a0a\u00a0decrease of\u00a02.2 per cent during the past year.<\/p>\n

Prices weren’t the only part of the housing market that rose during the month. The actual number of sales was up by 10 per cent in December compared to the same month a year ago. December is not typically a strong month for home sales as demand goes away during cold winter months.<\/p>\n

“December mirrored the main themes of 2015, with strong sales activity and price growth across much of British Columbia and Ontario offsetting declines in activity among oil producing regions,” said Gregory Klump, CREA’s chief economist.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Average Canadian house price up another 12% to $454,342 But if B.C. and Ontario are stripped out, average house price declined by 2.2% last year Hot markets in Toronto and Vancouver are skewing the national average price of a Canadian home higher, CREA says. (Daniel Acker\/Bloomberg) The average price of a Canadian home increased by […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[94,103,11755,3544,3000,2638,406,2340,1378,803,1340],"class_list":["post-16545","post","type-post","status-publish","format-standard","hentry","category-economics","tag-british-columbia","tag-canada","tag-canadian-real-estate-agency","tag-cbc","tag-cbc-news","tag-crea","tag-housing-bubble","tag-housing-market","tag-ontario","tag-toronto","tag-vancouver"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16545"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16545\/revisions"}],"predecessor-version":[{"id":16546,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16545\/revisions\/16546"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}