Average Canadian house price fell 5.5% in the past year, realtor group says

The average price of a Canadian home has fallen by 5.5 per cent to $455,000 over the past 12 months, the Canadian Real Estate Association said Friday.

The group that represents 125,000 realtors across the country says sales were higher in January than in December, but prices still sank compared to a year ago.

“Homebuyers are still adapting to tightened mortgage regulations brought in last year,” CREA president Barb Sukkau said.

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