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According to a recent research, resale prices of homes in Toronto have increased by 4 percent in the first two quarters of 2008 compared to the homes sold in the same period in 2007. The average housing price in the first two quarters of 2008 was approximately $427,198. In addition, it has been seen that the housing prices in 905 regions have gone up by 5 percent to $365,536.
Although the housing prices during recessions in Canada increase, the overall sale tends to decline as is visible in June 2008 where the change of ownership declined by 18 percent when compared to the same period in 2007.
According to the Canadian Real Estate Association (CREA), housing prices during recessions in Canada have no real bearing to the change in ownership. And if reports and trends are to be believed, it is expected that home prices will increase at an even greater pace than the number of home sold; and the home prices in the Western provinces of Canada have increased at double the rate when compared to other provinces.
Analysts say that the weakened US economy generally contributes to low interest rates in Canada and this makes the mortgage rates affordable and it plays the main role in keeping the real estate market active with an increase in housing prices during recessions in Canada.
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If you are planning to sell your home, it is quite important to find the correct house value so that you are not short-changed. So, how do you find your house value? There are a few things to consider when you go out to get the value of your home. 
