National average resale prices rose to $327,736 a 11 per cent increase in the third quarter with 135,182 sales July to September, up 18 per cent from 2008.
Again the reasons for these impressive numbers:
- Lower interest rates
- Pent up demand from late 2008
- Short supply with fewer listings
Several economists see higher interest rates early in 2010 that “will put an end to the mini-boom..”
Resales of 28 per cent in Toronto and 108 per cent in Vancouver have pushed the national averages upward, the largest jump since 2002.
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