{"id":17955,"date":"2021-06-01T11:11:00","date_gmt":"2021-06-01T18:11:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=17955"},"modified":"2021-05-20T13:58:24","modified_gmt":"2021-05-20T20:58:24","slug":"canadian-home-values-have-risen-by-23-135000-nationally","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2021\/06\/canadian-home-values-have-risen-by-23-135000-nationally\/","title":{"rendered":"Canadian Home Values Have Risen by 23% ($135,000) Nationally"},"content":{"rendered":"<p style=\"text-align: justify;\">The country\u2019s \u201chousing mania\u201d may have been dialled back in April, but home price appreciation continued on a tear.<\/p>\n<p style=\"text-align: justify;\">Since April 2020, the first full month that the pandemic\u2019s impact was felt in the housing market, home values have risen by $135,000 \u2014 or 23 percent \u2014 nationally. Between March and April of 2021 alone, Canadian homes gained $17,000 in value, according to new commentary published this week by RBC Senior Economist Robert Hogue.<\/p>\n<p style=\"text-align: justify;\">The economist noted that home sales activity over the past couple months was \u201cclearly unsustainable\u201d and the slowdown recorded in April may signal some reluctance on the part of buyers to continue engaging in bidding wars as prices continue soaring to all-time highs.<\/p>\n<p style=\"text-align: justify;\">Sales fell 12.5 percent in April on a monthly basis at the national level. But even with the drop in transaction volume, Hogue wrote that the market remained \u201cincredibly tight\u201d and prices continued their epic climb across the country.<\/p>\n<p style=\"text-align: justify;\">Communities in Ontario\u2019s cottage country recorded monthly gains as high as $36,400 in their average sale prices. Small and medium-sized cities in Ontario and BC were also sites of strong monthly gains, with Ottawa recording a $23,000 increase, while prices in Victoria climbed $22,200 from March to April.<\/p>\n<p style=\"text-align: justify;\">When it comes to activity in the months ahead, Hogue expects the cooldown will continue allowing the market to become more balanced.<\/p>\n<p style=\"text-align: justify;\">\u201cWe expect a gradual rise in longer-term interest rates, deteriorating affordability, mortgage stress test tightening and the resumption of office work to cool demand down a few degrees. Soaring prices could also attract more sellers,\u201d he wrote.<\/p>\n<p style=\"text-align: justify;\">\u201cThis combination would ease the extreme imbalance that has characterized the market since last summer and set the stage for a moderation in the rate of price increases later this year,\u201d he continued.<\/p>\n<p style=\"text-align: justify;\">In the meantime, expect prices to continue to climb rapidly, the economist cautioned.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2021\/05\/canadian-homes-gained-135k-value-last-12-months.html\" target=\"_blank\" rel=\"noopener\">Canadian Homes Have Gained $135K in Value in The Last 12 Months<\/a> by Sean MacKay | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The country\u2019s \u201chousing mania\u201d may have been dialled back in April, but home price appreciation continued on a tear. Since April 2020, the first full month that the pandemic\u2019s impact &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2021\/06\/canadian-home-values-have-risen-by-23-135000-nationally\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-17955","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Canadian Home Values Have Risen by 23% ($135,000) Nationally &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2021\/06\/canadian-home-values-have-risen-by-23-135000-nationally\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Canadian Home Values Have Risen by 23% ($135,000) Nationally &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The country\u2019s \u201chousing mania\u201d may have been dialled back in April, but home price appreciation continued on a tear. Since April 2020, the first full month that the pandemic\u2019s impact &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/canadian-home-values-have-risen-by-23-135000-nationally\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/canadian-home-values-have-risen-by-23-135000-nationally\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Canadian Home Values Have Risen by 23% ($135,000) Nationally\",\"datePublished\":\"2021-06-01T18:11:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/canadian-home-values-have-risen-by-23-135000-nationally\\\/\"},\"wordCount\":323,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/canadian-home-values-have-risen-by-23-135000-nationally\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/canadian-home-values-have-risen-by-23-135000-nationally\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/canadian-home-values-have-risen-by-23-135000-nationally\\\/\",\"name\":\"Canadian Home Values Have Risen by 23% ($135,000) Nationally &#8226; 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