Home prices rose in May 8.6%

The average home price in Vancouver has risen by 25.7 per cent to $831,555 making the area the most expensive in the country and pushing the prices elsewhere up by 8.6% according to the Canadian Real Estate Market.  Check out the article CBC wrote yesterday http://www.cbc.ca/news/business/story/2011/06/15/crea-housing-may.html.  Good news also that housing sales where also up last month.  The housing market will continue to be supported by low interest rates.