{"id":17864,"date":"2016-02-16T14:27:57","date_gmt":"2016-02-16T19:27:57","guid":{"rendered":"http:\/\/olduvai.ca\/?p=17864"},"modified":"2016-02-16T14:28:20","modified_gmt":"2016-02-16T19:28:20","slug":"average-house-price-in-canada-up-17-in-january-to-470297","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=17864","title":{"rendered":"Average house price in Canada up 17% in January to $470,297"},"content":{"rendered":"<div id=\"content\" class=\"wrap12 story-head\" tabindex=\"0\">\n<div class=\"colfull\">\n<div class=\"story-headline\">\n<h3 class=\"story-title\"><a href=\"http:\/\/www.cbc.ca\/news\/business\/housing-crea-january-1.3449838\" target=\"_blank\">Average house price in Canada up 17% in January to $470,297<\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wrap8 story-primary\">\n<div id=\"leadmedia\" class=\"story-leadmedia col8\">\n<div class=\"figure\">\n<p><img decoding=\"async\" title=\"\" src=\"http:\/\/i.cbc.ca\/1.3228568.1442321510!\/fileImage\/httpImage\/image.jpg_gen\/derivatives\/16x9_620\/housing-real-estate-for-sale-sign.jpg\" alt=\"House prices increased by an astounding 17 per cent in January, CREA said.\" width=\"100%\" height=\"349\" \/><\/p>\n<p class=\"figure-caption\">House prices increased by an astounding 17 per cent in January, CREA said. (Patrick T. Fallon\/Bloomberg)<\/p>\n<\/div>\n<\/div>\n<div class=\"wrap8 story-bodywrapper sclt-storybody\">\n<div id=\"sharecount_gig_containerParent\" class=\"story-middle col2\">\n<div id=\"sharecount\" class=\"sclt-share\">\n<div id=\"yui_3_11_0_2_1455648548369_11\" class=\"gig-bar-container gig-share-bar-container\">The average price of a Canadian home sold in January increased by 17 per cent to $470,297 compared to the same\u00a0month a year ago.<\/div>\n<\/div>\n<\/div>\n<div class=\"story-body\">\n<div class=\"story-content\">\n<p>Home sales were higher during the month, but prices truly soared, the Canadian Real Estate Association reported Tuesday.<\/p>\n<ul>\n<li><strong><a href=\"http:\/\/www.cbc.ca\/news\/business\/new-mortgage-rules-down-payment-1.3440797\">New mortgages rules Tuesday might temper hot markets, but not for long<\/a><\/strong><\/li>\n<li><a href=\"http:\/\/www.cbc.ca\/news\/business\/shadow-flipping-real-estate-1.3440824\">Shadow flipping not limited to Vancouver market<\/a><\/li>\n<\/ul>\n<p>As has been the case for several years, however, two large and hot markets, in Toronto and Vancouver, skewed the national average higher.<\/p>\n<p>Strip\u00a0the two cities out of the numbers and\u00a0the average Canadian home was worth\u00a0$338,392 last month while\u00a0the year-over-year gain drops to eight per cent.<\/p>\n<p>If B.C. and Ontario were\u00a0stripped out, the picture would look\u00a0even bleaker \u2014 the average price of a Canadian home would have dropped\u00a0by 0.3 per cent in January to\u00a0$286,911.<\/p>\n<p>&#8220;While we continue to believe that things just can&#8217;t any hotter, markets in B.C. and Ontario continue to prove us wrong,&#8221; TD economist Diana Petramala said, adding that for Toronto and Vancouver, &#8220;every month of double-digit home price growth raises the risk of a deeper home price correction down the road.&#8221;<\/p>\n<p>Despite the eye-popping price gains on a national level, there are signs of tightening in the market locally.<\/p>\n<p>On an annualized basis, prices declined in January in four provinces, including Alberta, Saskatchewan, Nova Scotia and Newfoundland and\u00a0Labrador.<\/p>\n<p>The average price gain across Canada&#8217;s\u00a026 largest cities was 4.7 per cent\u00a0in January; the strongest was 31 per cent in Vancouver;\u00a0\u00a0the weakest was \u201310 per cent,\u00a0in Newfoundland and\u00a0Labrador, which is considered one single market and thus compared to other cities.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Average house price in Canada up 17% in January to $470,297 House prices increased by an astounding 17 per cent in January, CREA said. (Patrick T. Fallon\/Bloomberg) The average price of a Canadian home sold in January increased by 17 per cent to $470,297 compared to the same\u00a0month a year ago. Home sales were higher [&hellip;]<\/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":[103,12434,3000,2694,2340,11838],"class_list":["post-17864","post","type-post","status-publish","format-standard","hentry","category-economics","tag-canada","tag-canadian-real-estate-association","tag-cbc-news","tag-house-prices","tag-housing-market","tag-pete-evans"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17864","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=17864"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17864\/revisions"}],"predecessor-version":[{"id":17866,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17864\/revisions\/17866"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}