Canadian Real Estate Association and TD Bank

Toronto Vancouver: But with greater demand than supply it doesn't seem to be slowing down, according to CTV. While there are many factors contributing to the hot markets -- immigration, demographics, foreign interest supported by a low dollar -- there is also another influencer, fear. Recent statistics released by the Canadian Real Estate Association suggest the average home price in Canada is over $500,000 with Toronto and Vancouver continuing to skew the regional data points on pricing and sales. According to a new poll by TD Bank, 19 per cent of new home buyers won't be sitting back idly because they have this tremendous fear of missing out. We have been talking about the housing market slowing down - that hasn't happen, we have talked about rates going higher - that hasn't happened, even the government has stepped in and increased the minimum down payment for some mortgages, requiring a minimum down payment of 10 per cent on amounts over $500,000, which applies to most properties in hot markets like Toronto, Vancouver and Montreal. I understand that. (www.immigrantscanada.com). As reported in the news.