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Canada needs "a big surge of supply" to stop runaway house price growth, and that might happen when the pandemic ends.
December sales were up 47.2 per cent compared to the year before.
Home sales soared 45.6 per cent from a year earlier, the Canadian Real Estate Association says.
The average cost to buy a home in Canada has climbed to $539,000.
Every major housing market in the country saw a price drop in April.
The data reflects "the pre-COVID-19 reality, which we are no longer in."
The average house price has jumped 11.2 per cent in the past year.
East versus west is the new divide in the country's obsession with home equity.
Sales are below typical levels in many places, and the average price is lower than a year ago.
Home sales and prices fell again in November, as a CIBC report warns the downturn isn't over yet.