The Canadian Real Estate Association (CREA), released national sales statistics for the month of November, 2015 recently. According to the CREA, “The number of homes trading hands via MLS® Systems of Canadian real estate Boards and Associations rose by 1.8 percent in November 2015 compared to October to reach its highest monthly level in six years. There was a fairly even split between the number of markets where sales posted a monthly increase and those where sales declined. The national increase was again led by monthly sales gains in the Lower Mainland of British Columbia and in the Greater Toronto Area (GTA).”
Highlights of CREA's report
- National home sales rose by 1.8% from October to November.
- Actual (not seasonally adjusted) activity was up 10.9% compared to November 2014.
- The number of newly listed homes was up 3.1% from October to November.
- The Canadian housing market remains balanced overall.
- The MLS® Home Price Index (HPI) rose 7.1% year-over-year in November.
- The national average sale price rose 10.2% on a year-over-year basis in November; excluding Greater Vancouver and Greater Toronto, it increased by 3.4%.
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