The average price of a Canadian resale home has risen by more than 15 per cent in the year up to October, the Canadian Real Estate Association said Monday. While sales plummeted in the early days of the pandemic, they have been on fire ever since. The average price of a resale home sold on CREA's MLS system went for $607,250. That's up by 15.2 per cent compared to last October. "The real price strength is in markets just outside (call it one-to-two hours) of the biggest urban centres," BMO economist Robert Kavcic said in a research note.

Source: CBC News November 16, 2020 14:42 UTC