The Canadian Real Estate Association (CREA), released national sales statistics for the month of January, 2016 this week. According to the CREA, “The number of homes trading hands via MLS® Systems of Canadian real estate Boards and Associations edged up by 0.5 percent in January 2016 compared to December of last year. The monthly increase lifted national sales activity to the highest level since late 2009.”
Highlights of CREA's report
- National home sales edged up by 0.5% from December to January.
- Actual (not seasonally adjusted) activity was up 8% compared to January 2015.
- The number of newly listed homes retreated by 4.9% from December to January.
- The Canadian housing market has tightened but remains balanced overall.
- The MLS® Home Price Index (HPI) rose 7.7% year-over-year in January.
- The national average sale price rose 17% on a year-over-year basis in January; however, excluding British Columbia and Ontario, it edged down 0.3%.
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