Higher Average Home Prices in St. John’s

March 17, 2009 · Filed Under St. John's Real Estate 

VOCM.com has posted an article titled “Housing Prices Rise in Province“  Here is the article in it’s entirety.

“The average house price in Canada continues to fall, but not in Newfoundland and Labrador. The Canadian Real Estate Association says resale home prices fell 9.2 per cent last month to an average of just under $282,000. The association says historically low mortgage rates and improved affordability helped create interest last month, though supply remains high. It says the economic uncertainty may keep buyers in a “cautious mood”. Prices were lower in 14 of 25 major markets that the association measures, with the biggest drops in Vancouver,  Calgary and Windsor, Ontario. Saint John, New Brunswick, and the province of Newfoundland and Labrador were among markets that reported sharply higher average home prices, up more than 20 percent each. While it is a buyer’s market in many provinces, Newfoundland and Labrador remains more of a balanced situation.”

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