And nice statistic courtesy of the Bank of Montreal as the average Canadian house last year, after appreciating more than 11 per cent, made more money than the average Canadian worker.
With existing home sales data for the month of June today, home prices up 11.2 per cent year over year with the average sale price last month of 503,301 thousand dollars, which is up 50,610 dollars and just edges out the average annual pay of a Canadian of 49,565 dollars.
Other than the catchy or perhaps discouraging headline, it really is a status quo report in that sales and prices continue to escalate thanks to Vancouver and Toronto.
And with that get ready for calls for a harder landing.
Additionally, the Fraser Valley had the biggest price gains up 23 per cent.
Now, the ultimate question has to be at what point affordability catches up to slow this market down.