21 Aug Canadian real estate prices return to growth after brief decline.
Original article via Better Dwelling. Click here to read.
Canadian real estate prices are back to growing, after seeing minor price declines for half of a year. Canadian Real Estate Association (CREA) numbers show home prices have returned to growth in July. National price growth is being driven by a boom in markets that underperformed over the past 5 years.
Canadian real estate prices made a big move last month. CREA’s seasonally adjusted, national benchmark price hit $620,900 in July, up 0.57% from the month before. This represents an increase of 0.22% compared to the same month last year. If you didn’t catch that, the adjusted monthly gain was so large – it pulled the market out of negative growth.