17 May 2011
Meanwhile, fewer sales and an increase of newly listed homes brought the national real estate market to a more balanced position in April.
The national average price for houses sold in April 2011 was $372,544. It’s 8% higher than a year ago.
The reason for such an increase was high demand for multi-million dollar properties in some areas of Greater Vancouver. In April the demand was already normalized, but fewer sales of lower priced properties have balanced the situation.
“It’s quite possible that mortgage rules change implemented in April 2011 has pushed away some of the first-time homebuyers,” – said Klump. “In the same time, it was the best April for higher end home sales in Greater Vancouver and Toronto”.