April 12, 2011
House Prices Continue to Rise
Did you know the Royal LePage House Price Survey released today showed the average price of a home in Canada increased between 3.5 and 4.3% on a year-over-year basis? Low interest rates and a recovering economy continued to fuel increases. Phil Soper, CEO of Royal LePage said, “We expect house prices will continue to creep up, but most of the excess demand has been satisfied, and affordability continues to erode slowly, allowing the supply of listings to catch up. In most markets, lower single digit percentage increases are more likely for the balance of the year.”
