10 Incredible Numbers from Canada’s Real Estate Bubble

Canada’s Real Estate Bubble Is Jaw-Dropping

Canada’s housing market is overpriced and the nation’s real estate bubble is due to burst at any moment. At least, that’s what we’re told.

This message has been repeated so often that many Canadians have tuned out the conversation altogether. But lately, the country’s housing market has defied reason. Despite years of stagnant wages and a slowing economy, real estate prices continue to soar at a nearly double-digit clip.

Regardless of your views on real estate, the nation’s two-decade-long housing boom has produced some jaw-dropping statistics. Here are 10 incredible numbers from Canada’s real estate bubble.

1. $1,226,300

A shortage of listings and intense demand is driving up prices beyond any bounds of reason. In Calgary, the average detached house sold for $509,392 in November. In Toronto, just a semi-detached home will set you back $750,608.

However, Vancouver’s real estate market really takes the cake. According to the Real Estate Board of Vancouver, the benchmark price for a detached house in the Metro Area increased 22.6% year-over-year in November to $1,226,300.

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