The Canadian Real Estate Association (CREA) recently released national sales statistics for January of 2021.
According to the report, "Home sales recorded over Canadian MLS® Systems climbed 2% between December 2020 and January 2021 to set another new all-time record."
"Seasonally adjusted activity was running at an annualized pace of 736,452 units in January, significantly above CREA’s current 2021 forecast for 583,635 home sales this year. Sales will be hard-pressed to maintain current activity levels in the busier months to come absent a surge of much-needed new supply; although, that could materialize as current COVID-19 restrictions are increasingly eased and the weather starts to improve."
Highlights of CREA's report
National home sales rose 2% on a month-over-month (m-o-m) basis in January.
The actual (not seasonally adjusted) activity was up 35.2% year-over-year (y-o-y).
The number of newly listed properties dropped by 13.3% from December 2020 to January 2021.
The MLS® Home Price Index (HPI) rose 1.9% m-o-m and was up 13.5% y-o-y.
The actual (not seasonally adjusted) national average sale price posted a 22.8% y-o-y gain in January.
Read the entire report on Canadian MLS® sales for January of 2021.
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