Home Prices Set New Record High, Sales Surpass Pre-COVID Levels - Mortgage Rates & Mortgage Broker News in Canada

Author: External Author | Sep 02, 2020 | Categories: First Time Home Buyer , Home Renovation Mortgage , Investment Properties , Mortgage Associate , Mortgage Associate Saskatoon , Mortgage Down Payment , Mortgage Penalty , Mortgage Renewal , New To Canada Mortgage , Refinance Mortgage , Second Home Mortgage , Self Employed Mortgage , Vacation Homes

Continuing the upward trend that started in June, home sales bounced back to pre-COVID levels in July, soaring 30.5% year-over-year.

Home prices, too, set a new record high of $571,500, a 14.3% increase from July 2019, the Canadian Real Estate Association reported on Monday. Excluding the higher-priced markets of Toronto and Vancouver, the national average would be $454,500.

Original Article Source Credits: CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By: Steve Huebl

Original Article Posted on: August 17, 2020

Link to Original Article: https://www.canadianmortgagetrends.com/2020/08/home-prices-set-new-record-high-sales-surpass-pre-covid-levels/

CLICK HERE TO READ THE FULL ARTICLE »