Sudbury home prices up 15.5% year-over-year

Ontario home prices stabilized in February, ending a five-month fall that began last summer, figures released by the Canadian Real Estate Association Monday show.

Within Ontario, sales in the North continued to show much stronger growth than those elsewhere in the province. Single-family homes in the Sault were up 8.8 per cent year-over-year, and those in Sudbury were up 15.5 per cent. Inflation, depending on what measure you choose, is running at between 3.4 and 3.7 per cent.

“With so much demand having piled up on the sidelines, the story will likely be less about the exact timing of interest rate cuts and more about how many homes come up for sale this year.” “After two years of mostly quiet resale housing activity there’s a feeling that things are about to pick up,” said CREA chair Larry Cerqua.

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Canadian housing starts rose 14% in February, CMHC saysThe annual pace of housing starts in February climbed 14 per cent compared with January, in the country, Canada Mortgage and Housing Corp. says.
Source: GlobalCalgary - 🏆 50. / 61 Read more »

Canadian home prices flat in February after falling for 5 monthsProspective buyers who delayed their purchases last year are starting to look again and make bids. The real estate industry said there is pent up demand after months of lackluster activity
Source: globeandmail - 🏆 5. / 92 Read more »