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Re/Max says house prices have recovered to 2008 levels in many Canadian markets


Blog by The Schacter Team | September 24th, 2009


Re/Max says house prices have recovered to 2008 levels in many Canadian markets

THE CANADIAN PRESS


A house for sale is shown. A new Re/Max real-estate survey says house values have recovered in many major Canadian markets to where they were before the market crashed. (THE ASSOCIATED PRESS/Mark Lennihan)"

KELOWNA, B.C. - A new Re/Max real-estate survey says house values have recovered in many major Canadian markets to where they were before the market crashed.

The survey found house values are ahead of record highs set in 2008 in seven of the 11 markets surveyed for the real-estate brokerage network. The national average price was $312,585, up 0.5 per cent from a year ago.

Re/Max attributed the recovery to low interest rates, pent-up demand and improved affordability.

The survey was based on information from Canada's major urban centres and may not reflect what's happening in smaller markets.

Content Provided By Canadian Press.