New Home Prices Are Over 50% Higher In Canada Than The US
zerohedge.com / by Kaitlin Last via BetterDwelling.com / May 28, 2017
The price of new homes is quickly diverging in Canada and the US.
Data from the Canadian Housing and Mortgage Corporation (CMHC) show that new homes are selling for substantially more than the same time last year.
Meanwhile south of the border, data from the US Bureau of Census show that new home prices are on the decline.
This has lead to an even wider gap between the average price of a new home in Canada and the US.
Canadian New Construction Is Higher
The price of a new home across Canada is up for the second month in a row. The average sale price in April was CA$751,881 (US$559,123). This represents an 11% increase from the same time last year, when measured in Canadian dollars. When compared in US dollars, that increase drops to a much more conservative 2.64%. Even after factoring in the loonie’s decreased buying power in Canada, new home prices still climbed.
The post New Home Prices Are Over 50% Higher In Canada Than The US appeared first on Silver For The People.
Source: http://silveristhenew.com/2017/05/29/new-home-prices-are-over-50-higher-in-canada-than-the-us/
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