Canadian home sales remain historically strong in October: CREA

Canadian home sales remain historically strong in October: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for October of 2020.

According to the report, "Statistics released today by the Canadian Real Estate Association (CREA) show national home sales continued running at historically strong levels in October 2020."

"Home sales recorded over Canadian MLS® Systems in October 2020 edged back by 0.7% from September’s all-time record for monthly sales."

"Many Canadian housing markets continue to see historically strong levels of activity, and at this point over

and above what would have been required to make up for the very quiet spring market this year,” stated Costa Poulopoulos, Chair of CREA. "As you may have heard, as of October 19 CREA is once again recommending against in-person open houses. We’ll have to wait and see how a return to more restrictive safety measures impacts housing markets as we move towards the end of this strange year, particularly if it leads to fewer people putting their
homes up for sale in regions that already have historic supply shortages. In the meantime, we will remain vigilant in adhering to government and health officials’ directives to keep our clients safe, including the use of all the virtual 

technology solutions that were so popular back in the spring. Now as always, REALTORS® remain the best source for information and guidance when negotiating the sale or purchase of a home,” continued Poulopoulos.

 Highlights of CREA's report

  • National home sales edged back 0.7% on a month-over-month (m-o-m) basis in October.

  • The actual (not seasonally adjusted) activity was up 32.1% year-over-year (y-o-y).

  • The number of newly listed properties rose 2.9% from September to October.

  • The MLS® Home Price Index (HPI) rose 1% m-o-m and was up 10.9% y-o-y.

  • The actual (not seasonally adjusted) national average sale price posted a 15.2% y-o-y gain in October.

Read the entire report on Canadian MLS® sales for October of 2020.


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Royal LePage Vidorra


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