The average price of a Canadian home increased by 9.5 per cent to $474,590 in September compared to the same month last year. The Canadian Real Estate Association said home sales had declined for four straight months until inching up by 0.8 per cent last month. Home sales are now 5.6 per cent below the all-time record level they hit in April, CREA said. If those two cities are stripped out, the average price of a Canadian home declines by more than $100,000 to $358,884. Indeed, the average house price ticked lower in Vancouver due in part to recent moves to dissuade foreign investors via a 15 per cent tax.

Source: CBC News October 14, 2016 13:30 UTC