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Canadian home sales show continued strength through November, 2020: CREA

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


According to the report, "Home sales recorded over Canadian MLS® Systems edged back by 1.6% between October and November. Small declines in October and November notwithstanding, monthly activity is still running well above most of history."


"The decline from October to November reflected fewer transactions in about 60% of all local markets, notably in large markets – Toronto, Vancouver, Montreal and Ottawa."


"Actual (not seasonally adjusted) sales activity posted a 32.1% y-o-y gain in November – the same as in October. It was a new record for that month by a margin of well over 11,000 transactions. For the fifth straight month, year-over-year sales activity was up in almost all Canadian housing markets compared to the same month in 2019. Among the few markets that were down on a year-over-year basis, it is likely the handful from in Ontario reflect a supply issue rather than a demand issue."



 Highlights of CREA's report

  • National home sales edged back 1.6% on a month-over-month (m-o-m) basis in November.

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

  • The number of newly listed properties also fell back by 1.6% from October to November.

  • The MLS® Home Price Index (HPI) rose 1.2% m-o-m and was up 11.6% y-o-y.

  • The actual (not seasonally adjusted) national average sale price posted a 13.8% y-o-y gain in November.

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


CREA has also released its Housing Market Forecast for 2021 and that document is available here.

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Norm Fisher

Royal LePage Vidorra

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Norm Fisher, TeamFisher

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 750 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 750 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

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