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Canadian home sales climb higher in October, 2016: CREA


The Canadian Real Estate Association (CREA), released national sales statistics for the month of October, 2016 this week.


According to the CREA, “The number of homes trading hands via Canadian MLS® Systems rose 2.4 percent month-over-month in October 2016." “First-time home buyers looking to get into the market before having to face tougher mortgage eligibility criteria had only two weeks to do so following the Finance Minister’s announcement of tighter mortgage regulations in early October,” said Gregory Klump, CREA’s Chief Economist.


“Early evidence suggests that the influence of tighter mortgage regulations on sales activity has been mixed. The federal government will no doubt want to monitor the effect of new mortgage regulations on the many varied housing markets across Canada and on the economy, particularly given the recent rise in uncertainty about economic growth prospects following the U.S. presidential election.”



Highlights of CREA's report    

      • National home sales rose 2.4% from September to October.
      • Actual (not seasonally adjusted) activity was up 2.0% year-over-year (y-o-y) in October 2016.
      • The number of newly listed homes edged up 1.7% from September to October.
      • The MLS® Home Price Index (HPI) in October was up 14.6% y-o-y.
      • The national average sale price climbed 5.9% y-o-y.

  Read the entire report on Canadian MLS® sales for October, 2016.


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Norm Fisher

Royal LePage Vidorra

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale.Less...

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale. Known locally as an impact leader he supports many organizations that serve our community’s most vulnerable people like the Saskatoon Interval House, the YWCA Crisis Shelter, the Lighthouse, the Friendship Inn and others. He has participated in several physically daunting charitable challenges and helped raise over one million dollars for women's shelters across Canada. Additionally, he’s a charter member of 100 Men Who Give a Damn in Saskatoon, a group of local philanthropists who are driven to bring positive change to those in need within our community. Fisher is a licensed real estate broker and owner of Royal LePage Vidorra, a boutique brokerage known for technology and innovation.

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 700 posts can be found at normfisher.com where they'll remain until we can get them moved here.

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