Average Canadian sold houses climbs 9% to $439,144 in March

CBC reports that the average price of a Canadian home sold in March increased by nine per cent compared with the same month a year earlier, rising to almost $440,000. The average house price was $439,144, and actual home sales activity rose 9.5 per cent above March 2014 levels.

While the spring home buying season is off to a hot start, the two big markets of Toronto and Vancouver continue to skew the numbers higher, the Canadian Real Estate Association said Wednesday. If sales in those two markets are stripped out, the average price for Canadian resale homes drops to $332,711, with an annual increase of just 2.4 per cent.