Canadian Home Prices, Sales Rise Again After Mortgage Rules Change

Canadian Home Prices, Sales Rise Again After Mortgage Rules ChangeResidential real estate sales picked up in 60% of local markets in Canada last month as the sector bedded down with changes to the country’s mortgage rules.

Prices also increased slightly but overall the market is subdued compared with a year ago, according to the latest data from the Canadian Real Estate Association (CREA).

The number of sales rose 2.5% month on month, the first monthly gain since March. CREA said it helps to partially offset the 6.2% drop recorded in August when the new mortgage rules were introduced.

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