By Moshe Milevsky | Mon Aug 15 2011
This is news only for the handful of Canadians who are not watching the real estate market closely. The average house price in Canada reached an all-time high of $371,000 this spring. In Toronto, the average hit $456,000 and in Vancouver it was $786,000, according to the Teranet - National Bank House Price Index.
Although there has been a slight price pull back during the last month or two, these market values are 100 per cent higher than a decade ago. Your house has more than doubled in 10 years, a compound appreciation of more than 7 per cent per year. This has occurred while virtually every other financial asset (other than gold) has declined in real value and housing prices in the United States have dropped by 30 per cent or more.
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Whether you are buying or selling a home or just curious about the market this is the place to find information regarding the Real Estate Market in Durham Region.
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