Garry Marr – April 15, 2016 – Financial Post
Via/ http://www.financialpost.com/
Existing home sales set an record in March across Canada with prices rising at a pace not see since before the 2008 recession hit, according to new data out Friday.
The Teranet–National Bank National Composite House Price Index rose 0.8 per cent from February to March, the largest monthly increase since 2008. Prices rose in six of 11 markets surveyed but the Vancouver market drove the national numbers as prices in Canada’s most expensive city for housing rose 2.8 per cent in just one month. It was the 15th straight month Vancouver prices have climbed.
The Ottawa-based Canadian Real Estate Association, which represents realtors across the country, made it clear that Vancouver, as well as Toronto, continue to drive national numbers to previously unseen levels.
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