The Canadian Real Estate Association (CREA), released national sales statistics for the month of September, 2015 recently. According to the CREA, “Although national sales activity was not as strong in September as it was earlier this year, a lack of supply in some parts of the country is likely keeping a lid on transactions,” said Gregory Klump, CREA’s Chief Economist. “The GTA and Greater Vancouver made sizeable contributions to the monthly decline in national sales activity. They also rank among the tightest urban housing markets in the country due to a shortage of inventory and supply of land on which to build, which is why prices there continue to grow strongly.”
Highlights of CREA's report
- National home sales declined by 2.1% from August to September.
- Actual (not seasonally adjusted) activity edged up 0.7% compared to September 2014.
- The number of newly listed homes retreated 2.1% from August to September.
- The Canadian housing market remains balanced overall.
- The MLS® Home Price Index (HPI) rose 6.9% year-over-year in September.
- The national average sale price rose 6.1% on a year-over-year basis in September; excluding Greater Vancouver and Greater Toronto, it increased by 2.9%.
Read the entire report on Canadian MLS® sales for September, 2015.
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Norm Fisher
Royal LePage Vidorra
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