MORTGAGE Blog & ARTICLES
The Home Prices in Canada that Fall in the Month of December
Many people are in the state of glancing at the changes in the real estate, property and house prices all over Canada. They pay attention to the different months wherein the prices vary. The prices fell and soon increase again.
Just as in December, the prices on home resale fell in a month-to month basis. This is based on the price index of the “Teranet-National Bank Composite”
In this index, they have the capability of measuring the changes in most prices. Especially the changes on the repeated sales of most single family homes, a zero point two percent drop takes place on the months of December and November. However, a six point eight percent increase is seen than the previous year.
In the index, the majority of the markets in the metropolitan area in Canada are covered. The five markets were also surveyed that there is a decline in most prices. The market in Vancouver and Toronto reported as small drop of zero point three percent. Even the regions of Victoria and British Columbia had the strongest decrease of zero point eight percent.
The month of December is the time that the survey took place. The metropolitan markets were surveyed in Canada. The home prices were shown from the previous year, along the five rmarkets that surpass the six point eight percentage increase.
The housing prices have their effect in the mortgage rates in Canada. These also have their crucial role to play in the market of the nation. In fact, the Innovative Composites International announced the first agreement along ReadLeaf Homes. They enter the northern and rural regions, including the rural-based communities. The agreements lead to the housing resources in the area in Canada.
With the sudden decrease in the housing prices in Canada, this is the reason why many people are interested in moving to Canada. They believed that the housing expenses are better than the other location.
Before, the housing prices in Canada were observed. The prices in other counties also changed a little. The prices remain to be higher in Canada than most of the rural areas and surrounding towns. In learning more about the housing prices in Canada, the most expensive housing prices are found in the western part of the British Columbia or Vancouver. These areas are where the mildest weather can be found.
The remoteness or winter weather from the main markets results in the low cost of houses. For instances, the property prices are relatively low in Prince Edward Island and Manitoba. The housing prices have become modest between the years of 2011 and 2012. This is due to the stricter and new mortgage rules which have been presented.
In regard with this situation, the government is still cooling down the housing market. For the many homeowners, they just need to continue keeping an eye on the housing markets. For people interested in buying homes in Canada, they just need to take a look at the current price index!
- Bank of Canada
- Commercial Mortgages
- Company Updates
- Financial Planning
- First Time Home Buyers
- Home Ownership
- Housing Market
- Market Watch
- Mortgage Education
- Mortgage Products
- Mortgage Rates
- New Mortgage Broker Updates
- Notable News
- Personal Finance
- Property Investments
- Real Estate
- Refinance & Renewal Mortgages