National Average Price of Home in February was $365,192
According to statistics released today by CREA, national resale housing activity in February 2011 ran close to the five-year average for the month, continuing a theme that has characterized the past four months. 
The national average price for homes sold in February 2011 rose 8.8 per cent year-over-year to $365,192. "The average price has been skewed higher nationally and in British Columbia recently by a record number of multi-million dollar sales in a couple of areas in Greater Vancouver," said Gregory Klump, CREA's Chief Economist.
"When you take Vancouver out of the equation, the year-over-year increase in the national average price drops to 3.4 per cent," added Klump. "While that's still stronger than in the past six months or so, national average price gains may recede after tighter mortgage regulations take effect in March."
Comments(1)