Canadian Real Estate Markets Still Hot

CANADA - With high prices, low mortgage rates and consumer confidence cup, Canadian markets have been red hot.

In Montreal there has been an increase in June of 2 per cent for single-family homes and 8 per cent for condos. The Island of Montreal was up 10 per cent. Overall, Montreal sales increased 3 per cent from last year.

In Toronto the year-over-year rise has been 15.8 per cent, with prices up 7.4 per cent and the average home selling in just 22 days.

Vancouver has seen a yearly increase of 28.9 per cent; June’s figures beat the 10 year average after a 3.7 per cent rise from May.

Calgary’s year-over-year growth in sales has been 15.78 per cent with its 10 year average beaten by 18 per cent.

Ottawa (4.3 per cent) and Edmonton (3.5 per cent) also saw modest growth.