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Canadian home sales cool in November: CREA

Canadian home sales cool in November: CREA

The Canadian Real Estate Association (CREA), released national sales statistics for the month of November, 2016 today.


According to the CREA, “The number of homes trading hands via Canadian MLS® Systems declined 5.3 percent month-over-month in November 2016. This represents the largest monthly decline in activity since August 2012. As a result, the number of homes changing hands now stands at the lowest level since September 2015."


“November was the first full month in which the expanded stress-test was in effect for home buyers with less than a twenty percent down payment,” said CREA President Cliff Iverson. “The government’s newly tightened mortgage regulations have dampened a wide swath of housing markets, including places not targeted directly by the government’s latest regulatory measures. The extent to which they pushed first-time home buyers to the sidelines varies among housing markets. All real estate is local, and REALTORS® remain your best source for information about sales and listings where you live or might like to in the future.”



Highlights of CREA's report    

      • Actual (not seasonally adjusted) activity remained 1.6% above levels in November 2015.
      • The number of newly listed homes edged down 0.4% from October to November.
      • The MLS® Home Price Index (HPI) in November was up 14.4% year-over-year (y-o-y).
      • The national average sale price climbed 7.3% y-o-y in November.

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


I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.


Norm Fisher Royal

LePage Vidorra

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