Whether you’re looking to get into the market, or you’re already a home owner, house prices is a topic on everybody’s mind. For years we’ve heard that house prices are inflated and that the “bubble” will pop. Well, new figures released by the Canadian Real Estate Association (CREA) shows that although the number of homes sold in October has decreased, the national average of the house prices has actually increased since the same time last year. In fact they’re reporting a 1.8% increase.
Here are the key take aways:
- house sales in October 2023 decreased in comparison to September 2023
- house sales in October 2023 increased by .9% in comparison to October 2022
- overall the number of new listings across the nation decreased by 2.3%