Canadian home prices rise even as sales decline in December, 2013: CREA

The Canadian Real Estate Association (CREA), released national sales statistics for the month of December, 2013 recently. According to the CREA, "The actual (not seasonally adjusted) national average price for homes sold in December 2013 was $389,119, an increase of 10.4 per cent from the same month last year. The size of year-over-year average price gains continues to reflect the decline in sales activity last year among some of Canada’s most active and expensive markets, which dropped the national average at that time. Removing Greater Vancouver and Greater Toronto from national average price calculations cuts the year-over-year increase to 4.6 per cent."
Highlights of CREA's report    

• National home sales fell 1.8% from November to December.
• Actual (not seasonally adjusted) activity stood 12.9% above weak December 2012 levels.
• The number of newly listed homes dropped 4.3% from November to December.
• The Canadian housing market remains in balanced territory.
• The national average sale price rose 10.4% on a year-over-year basis in December.
• The MLS® Home Price Index (HPI) rose 4.3% year-over-year in December.

Read the entire report on Canadian MLS® sales for December, 2013.

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Norm Fisher

Royal LePage Saskatoon Real Estate