Average house price has fallen by almost 2% to just over $480,000 in past year, CREA says

The average price of a Canadian home sold last month was $481,745, a figure that has fallen by 1.8 per cent in the past 12 months, the Canadian Real Estate Association says.

The group that represents realtors says that prices were lower, on average, and the number of homes sold was also down by 4.6 per cent compared to March of last year.

See Full Article



Advertisements

Latest Economic News

  • Why coronavirus will force central bankers to give the economy a shot in the arm by cutting rates

    Economic CBC News
    Central bankers are waking up to dramatically overhauled expectations about interest rates, as the coronavirus that started in China and is now creeping around the world rewrites their plans as quickly as the virus spreads. Investors are betting that there's better than a two in three chance of a rate cut from the Bank of Canada as soon as next Wednesday, when Canada's central bank is poised to reveal its next decision on interest rates. Source
  • 75% of appliances break in 10 years or less, CBC poll finds

    Economic CBC News
    When Phil Brun del Re bought a new Kenmore Elite refrigerator, he didn't expect it to break down three years later. But one weekend, his daughter discovered the appliance — which Brun del Re said he paid more than $3,000 for — was leaking water onto the floor. Source
  • Oilpatch to pitch in more for orphan well cleanup

    Economic CBC News
    The Alberta government says it's taking aim at the growing number of orphan oil and gas wells in the province by raising the levies collected from the oil and gas industry. The announcement, made in Thursday's budget, says the province will increase the amount of money collected from the oilpatch for orphan well decommissioning to $69 million in 2020-21. Source
  • Subway must pay CBC $500K for failed defamation lawsuit over chicken

    Economic CBC News
    Sandwich chain Subway has been ordered to pay the CBC $500,000 in legal costs following its failed bid to sue the public broadcaster for defamation. In his decision, Ontario Superior Court Justice Ed Morgan attributed much of the length and complexity of the legal battle to the approach taken by the fast-food chain. Source
  • Tim Hortons faces U.S. franchisee lawsuit alleging 'fraudulent' business scheme

    Economic CTV News
    TORONTO -- Franchisee unrest has hit Tim Hortons again, this time from its U.S. members, who are accusing the company of engaging in an "illegal and fraudulent business scheme." A lawsuit from the Great White North Franchisee Association USA Inc, a group claiming to represent most American Tim Hortons franchisees, alleges the company, its parent, its affiliates and former president Elias Diaz Sese have used provisions in agreements to charge Tim Hortons franchisees as much as 50 per cent above…
  • Insurers could lose billions if coronavirus causes Olympics cancellation

    Economic CBC News
    Global insurers face a hefty bill if the coronavirus forces the cancellation of the Summer Olympics in Tokyo, with estimates of the cost of insuring the sporting showpiece running into billions of dollars. Japan has more than 200 cases of coronavirus, which has infected more than 80,000 people worldwide and killed around 2,800, mostly in China. Source
  • S&P/TSX down more than 500 points as trading resumes after outage Thursday

    Economic CTV News
    TORONTO -- Canada's main stock index plunged at the open as trading resumed on the Toronto Stock Exchange after it was halted early Thursday afternoon due to a technical issue. The S&P/TSX composite index was down 529.83 points at 16,187.61. Source
  • Canada's main stock index plunges as trading resumes

    Economic CTV News
    TORONTO -- Canada's main stock index plunged at the open as trading resumed on the Toronto Stock Exchange after it was halted early Thursday afternoon due to a technical issue. The S&P/TSX composite index was down 529.83 points at 16,187.61. Source
  • Rout continues as stock markets plunge amid novel coronavirus fears

    Economic CTV News
    TORONTO -- The rout on stock markets continued in trading today as North American markets continued to plunge amid concerns about the novel coronavirus and its impact on the global economy. The S&P/TSX composite index was down 686.68 points at 16,030.76 after a technical problem forced an early end to trading on the Toronto Stock Exchange on Thursday. Source
  • TSX flirts with correction territory, posts worst week since 2008

    Economic CTV News
    TORONTO -- Canada's largest stock index flirted with correction territory after plunging for a sixth-straight day, capping off its worst week since the global financial crisis of 2008. The S&P/TSX composite index was down as much as 821 points Friday and closed down 454.39 points at 16,263.05. Source