October 12th - 2012

MarketWatch: National housing market at tipping point

The average price of a home in Canada increased year-over-year between 3.3 and 5.5% in the second quarter of 2012, according to The Royal LePage House Price Survey and Market Survey Forecast.

The average price of a home in Canada increased year-over-year between 3.3 and 5.5% in the second quarter of 2012, according to The Royal LePage House Price Survey and Market Survey Forecast. By the end of 2012, national average prices are forecast to be 3.2% higher compared to 2011. In the second quarter, standard two-storey homes rose 4.7% to $408,423, while detached bungalows increased 5.5% to $376,311. Average prices for standard condominiums increased 3.3% to $245,825. Signs from across the country indicate a turning point in the national housing market, with some regions continuing to grow while others peaked and began to pull back for the first time in three years. For the full report, visit www.royallepage.ca.

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Ontario Real Estate Association

Jean-Adrien Delicano

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