Canadian resale homes rose in the month of September according to the Canadian Real Estate Association.

Sales were 63 per cent higher than they were in January 2009, the lowest in ten years.

The average Canadian resale price was $331,602, an increase of 14 per cent from a year ago. The realtor group reported the price gain was partly due to a sharp rebound in the selling of higher end homes.

Mortgage rates currently at 5.49 per cent was near the 58-year low of 5.25 per cent set in April, 2009.