Canadian Home Prices Up Almost 30%

If you thought the U.S. housing market was hot wait till you see what’s happening with our neighbors to the north…(CBC)

• M-O-M: The Canadian Home Price Index in February shows home prices jumping 3.5% in just one month.

• Y-O-Y: The index reports that home prices are up 29.5% when compared to the same time as last year.

NOTE: The price of the average Canadian home hit $816,720 in February, its highest level on record, according to the Canadian Real Estate Association. This is up 20% year-over-year.

Things might be nuts in the U.S. but we don’t hold a candle to the craziness that is the Canadian housing market. Probably the first time anyone has ever refereed to Canada as the hottest place on earth. At least with regards to housing…