New data released Monday from the organization that represents home sellers shows Canada's housing market continues to hit new highs, with the average price increasing by almost 10% in the last 12 months to $391,085.
The Canadian Real Estate Association said the strong gain was in part because this time a year ago, sales were down in some of the largest housing markets.
When prices in Toronto and Vancouver are stripped out of the equation, the average annual price gain was 4.3%, CREA said.
Aside from prices, the realtor group says the number of homes sold was a little below the peak in September, but higher than the number this time last year and still close to the historical average.
A total of 434,678 homes have traded hands across the country this year, CREA says, about 0.2% higher than last year's total.
The average price rose 9.8% compared to a year ago, but actually had dropped on a monthly basis. November's average price was slightly lower than October's, $391,820.
