You might appreciate this Canadian house price index from Teranet; in alliance with National Bank of Canada. When you have some time, peruse the index and view a different weighted average for Canadian house prices, as well as regional price indexes for House prices in Vancouver and House prices in Calgary.
There’s a lot of talk lately about house prices across this country, including this article in the Financial Post where the Canadian Real Estate Association (CREA) claims the figures are misleading when looking at them nationally (granted article is a couple months old but it is interesting to go back and read the news from 2 months ago). More currently, yesterday’s news article on CBC.ca talks about how Buyers won’t find U.S.-style fire sales on foreclosed homes and focuses primarily on the foreclosure properties in Alberta.
The most experienced folks in real estate often use three familiar words; location, location, location… and certainly the location of your home will determine how your house prices is being affected. At AltaPacific Mortgages, location is certainly an extremely important element to our consideration of lending on a deal. Like you, we’ll keep a close watchful eye on house prices in markets across Western Canada.
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