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The national average home price shows a market still growing but increasingly that figure is hiding the fact that it’s barely treading water in many Canadian cities.

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tap here to see other videos from our team. Try refreshing your browser, or Outside of Toronto, Vancouver and Calgary, Canada's housing market is 'mediocre at best' Back to video

Added together, these three cities are responsible for a third of all sales in the country and almost half of the dollar value of deals.





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Toronto, Calgary and Vancouver continue to drive the Canadian housing market, but there is little the federal government can do to cool them off without impacting the rest of the country, say economists.

“We have very strong markets in three of our biggest cities and almost the rest of the country is mediocre at best,” said Doug Porter, chief economist with Bank of Montreal. “Some of these cities, by some measures, are quite weak.”

The Canadian Real Estate Association said Monday the average sale price of a home in August reached $398,618, a 5.3% increase from a year ago.