The recent gains in the average price for Canadian homes is likely to go down beginning in April as shorter mortgage terms are keeping some buyers out of an already softening Real Estate Market.

According to the Canadian Real Estate Association ( CREA) the average resale home price for February was $365,674, up 5.8 per cent.

The tighter mortgage regulations begin in March and will make mortgage payments higher.

CREA said two-thirds of Canada saw resales decline but they expect a 1.3 per cent increase in average home prices for 2011.