Canadian home sales ease in March, 2022 after February Surge: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for March of 2022.

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales and newly available listings both retreated in March 2022 after having jumped briefly higher in February." 

Home sales recorded over Canadian MLS® Systems fell back 5.4% between February and March 2022. The decline puts activity back in line with where it had been since last fall. 

Sales were down in about half of local markets in March, led by declines in the Greater Toronto Area (GTA) and Calgary.

The actual (not seasonally adjusted) number of transactions in March 2022 came in 16.3% below the all-time record set in March 2021. That said, as has been the case since last summer, it remains the second-highest level on record for that month "


 Highlights of CREA's report

  • National home sales fell back by 5.4% on a month-over-month basis in March.
  • Actual (not seasonally adjusted) monthly activity came in 16.3% below the all-time sales record set in March 2021.
  • The number of newly listed properties was down 5.5% month-over-month.
  • The MLS® Home Price Index (HPI) rose 1% month-over-month and was up 27.1% year-over-year.
  • The actual (not seasonally adjusted) national average sale price posted an 11.2% year-over-year gain in March.

Read the recently released national sales statistics for March of 2022.

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Norm Fisher

Royal LePage Vidorra


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