A dump truck gets set to dump clean fill at a new housing development in Oakville, Ont. on Aug.26, 2011. THE CANADIAN PRESS/Richard Buchan
July 10, 2012 - 6:53 AM
TORONTO - The latest Royal LePage report on Canada's home sales says prices generally went up in the second quarter and will likely rise further in some areas.
But the report suggests the Canada's residential real-estate market appears to be at a tipping point, with some areas likely too expensive for buyers at the current levels.
The national average prices for one-storey bungalows, two-storey detached homes and condominiums all went up in the April to June quarter.
Most of the major cities tracked by Royal LePage showed increases from the first quarter of 2012 and the second-quarter of 2011.
There were a few exceptions scattered across the country, however, with some types of homes in some cities showing lower local average selling prices.
News from © The Canadian Press, 2012