StatsCan: Home prices had strongest monthly growth in three years

Author: External Author | | Categories: First Mortgage , Mortgage Agent , Mortgage Broker , Mortgage Renewal , Real Estate , Real Estate Purchase , Real Estate Sales , Realtor , Residential Real Estate

Canada’s new homes saw their strongest monthly price growth in more than three years in August, impelled by intensified demand, inventory shortages, and a looming scarcity of building materials.

Nationally, new home prices increased by 0.5% from July to August, the largest such upswing since May 2017, according to Statistics Canada. The largest urban markets posted noticeable increases, with Vancouver’s 1% monthly gain and Toronto’s 0.3%.

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Original Article Source Credits:   MortgageBrokerNews ,

Article Written By:  Ephraim Vecina

Original Article Posted on:  24 Sep 2020

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