A new article in the Nanaimo Daily News states that housing prices are on the rise in Canada with the average price of homes up 19.6% from a year ago. The average home is now selling for $328, 537 in January, compared with $274, 711 a year ago. There has been a slight dip in housing resales as shown in the numbers released by the Canadian Real Estate Association. Though year over year, home resales activity is still up 58% .
“The resale market is becoming more balanced in a number of provinces,” said CREA president Dale Ripplinger. “A more balanced market is likely to result in smaller price increases going forward.”
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