Canada House Prices Jump +6.5% Year-Over-Year


Western Spruce-Pine-FIr KD 2x4 #2&Btr prices JULY 2020
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The Canadian Real Estate Association said Wednesday that the average price of a Canadian resale home was $539,000, up 6.5 per cent from the average price a year earlier. And it’s up by more than 10 per cent from what it was just one month earlier, in May.

Canada’s housing market went into a deep freeze when pandemic-related lockdowns began in March, causing activityย in March and April to fall to record lows.

Madison's Historical Softwood Dimension Lumber Price Comparison Table JULY 2020
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But sales picked up in May as restrictions eased, and that momentum seems to have followed through into June.

A total of 41,628 homes changed hands during the month, an increase of 63 per cent from May’s level, and a jump of more than 15 per cent compared to June 2019.

Sales were up in Canada’s biggest cities compared to May.