Canada’s average home price up nearly 20% year-over-year in November: CREA

The Canadian Real Estate Association says home sales in November edged up on a month-over-month basis.

The association says seasonally adjusted home sales in November rose 0.6 per cent after posting a nine per cent increase in October.

The increase came as CREA says sales were up month over month in about three-quarters of all local markets and in all major cities.

Compared with a year ago, actual home sales were down 0.7 per cent.

The actual national average home price was $720,850 in November, up 19.6 per cent from a year ago.

CREA says excluding Greater Vancouver and the Greater Toronto Area, two of the country’s most active and expensive housing markets, cuts $158,000 from the national average price.