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Total property sales in Canada hit an all-time high again in March, according to data released by the Canadian Real Estate Association. Vancouver, Toronto still leads the Canadian housing market, and the growing population is the main reason for the rise in Canadian property prices, and the construction industry in the two places has made great efforts to build homes in order to equalize house prices. Canadian house sales rate and house prices are on the rise.

According to the latest report from the Canadian Real Estate Association (Canadian Real Estate Association), the average house price in Canada rose to 508500 in March, up 15.7% from the same period last year.

With the gradual warming of the weather in March, the Canadian real estate market also ushered in a peak sales season. There were 45137 home purchases in Canada in March, the highest in recent years, according to MLS.

The real estate markets in Vancouver and Toronto remain the two hottest areas in Canada and are the main drivers of rising property prices in Canada. If you ignore the real estate market in these two regions, the average property price in Canada will fall to 366900, and the annual growth rate will drop to 10.4%. If you ignore the property markets in British Columbia and Ontario, the average house price in Canada is 1% lower than the previous year, with an average price of 299500.

However, we can also see from the picture that although Vancouver’s 21.3% annual growth has been crazy, the growth rate of 27.1% in the Fraser Valley (Fraser Valley) is the highest in the country. The heat of the Vancouver housing market has produced a “waterfall effect” that has spread to the Fraser Valley, but because house prices in the Fraser Valley are relatively low, there is plenty of room to rise, which makes the increase so exaggerated.

Total home sales also rose sharply, with the total transaction value rising by C $9.69 billion, an increase of 66.9 per cent over the same period last year. Currently, the average house price in BC province in the MLS database is C $771000, an increase of 20.2% over the same period last year.

Looking at the entire BC province, last month’s MLS website showed a total of 12560 home purchases, up 38 per cent from March last year. The record for home sales in May 2007 was 11683, a record that took nine years before it was broken in February this year, while the March sales record once again set a new record for February.

Warren Kirkland, an economist at TD Bank of Canada, said Canada’s “two-speed real estate market (two-speed real estate)” will not last forever, but there are no signs of easing.

“overall, we expect the overall average price increase in Canadian real estate to slow by three percentage points this year. In the long run, the increase in interest rates by the central bank may put some pressure on the demand for Canadian real estate. However, the real estate markets in Vancouver and Toronto are still dominated by the overall Canadian economy and crude oil market prices, and will continue to grow.”

Cameron Muir, chief economist of the Dawen Real Estate Association, also believes that the province’s real estate market will show no signs of easing in recent years. “Employment, wages and the number of immigrants are also driving real estate prices in the Dawen area, and several cities in the province are also facing the problem of housing demand.”

Home sales in Chiliwak doubled, up 104 per cent from the same period last year, 66 per cent in the Feisha Valley, 30 per cent on Vancouver Island and 51 per cent in Victoria.

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