The Canadian Real Estate Association (CREA) recently released national sales statistics for January of 2025.

Canadian MLS® Systems posted a double-digit jump in new supply in January 2025 when compared to December 2024. At the same time, sales activity fell off at the end of the month, likely reflecting uncertainty over the potential for a trade war with the United States. 

Although sales were down 3.3% on a month-over-month basis in January, this was mostly the result of sales trailing off in the last week of the month.

Meanwhile, the number of newly listed homes increased with an 11% jump compared to the final month of 2024. Aside from some of the wild swings seen during the pandemic, this was the largest seasonally adjusted monthly increase in new supply on record going back to the late 1980s.

“The standout trends to begin the year were a big jump in new supply at an uncommon time of year, as well as a weakening in sales which only showed up around the last week of January,” said Shaun Cathcart, CREA’s Senior Economist. “The timing of that change in demand leaves little doubt as to the cause – uncertainty around tariffs. Together with  higher supply, this means markets that had been steadily tightening up since last fall are now suddenly in a softer pricing situation again, particularly in British Columbia and Ontario.”

January Highlights:

• National home sales fell 3.3% month-over-month.

• Actual (not seasonally adjusted) monthly activity came in 2.9% above January 2024.

• The number of newly listed properties jumped 11% month-over-month.

• The MLS® Home Price Index (HPI) was little changed (-0.08%) month-over-month and was also virtually unchanged (+0.07%) on a year-over-year basis.

• The actual (not seasonally adjusted) national average sale price was up 1.1% on a year-over-year basis. 

Read the recently released national sales statistics for January of 2025.

UPDATE - CREA’s Residential Market Forecast for 2025.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate

The Canadian Real Estate Association (CREA) recently released national sales statistics for December 2024.

With much of the early fall surge of supply having now been picked over, home sales activity recorded over Canadian MLS® Systems dipped in December 2024.

Sales were down 5.8% compared to November but still stand 13% above where they were in May, just before the first interest rate cut by the Bank of Canada in early June.

The fourth quarter of 2024 saw sales up 10% from the third quarter and stood among the stronger quarters for activity in the last 20 years, not accounting for the pandemic.

“The number of homes sold across Canada declined in December compared to a stronger October and November, although that was likely more of a supply story than a demand story,” said Shaun Cathcart, CREA’s Senior Economist. “Our forecast continues to be for a significant unleashing of demand in the spring of 2025, with the expected bottom for interest rates coinciding with sellers listing properties for sale in big numbers once the snow melts.”

December Highlights:

•                     National home sales fell 5.8% month-over-month.

•                     Actual (not seasonally adjusted) monthly activity came in 19.2% above December 2023.

•                     The number of newly listed properties dipped 1.7% month-over-month.

•                     The MLS® Home Price Index (HPI) climbed 0.3% month-over-month and was only down 0.2% on a year-over-year basis.

•                     The actual (not seasonally adjusted) national average sale price was up 2.5% on a year-over-year basis.

Read the recently released national sales statistics for December of 2024.

UPDATE - CREA’s Residential Market Forecast for 2025.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate

The Canadian Real Estate Association (CREA) recently released national sales statistics for November 2024.

Home sales activity recorded over Canadian MLS® Systems rose again in November, building on October’s surprise jump.

Sales were up 2.8% in November compared to October, and now standing a cumulative 18.4% above where they were in May, just before the first interest rate cut in early June. The November increase was driven by gains in Greater Vancouver, .Calgary, Greater Toronto and Montreal, as well as by some double-digit sales activity in smaller cities in Alberta and Ontario.

 “Not only were sales up again, but with market conditions now starting to tighten up,  November also saw prices move materially higher at the national level for the first time in almost a year and a half,” said Shaun Cathcart, CREA’s Senior Economist. “Normally we might expect this market rebound to take a pause before resuming in the spring; however, the Bank’s latest 50-basis point cut together with a loosening of mortgage rules could mean a more active winter market than normal.”

 The National Composite MLS® Home Price Index (HPI) rose 0.6% from October to November 2024 – the largest month-over-month increase since last July.

November Highlights:

•              National home sales rose 2.8% month-over-month.

•              Actual (not seasonally adjusted) monthly activity came in 26% above November 2023.

•              The number of newly listed properties edged down 0.5% month-over-month.

•              The MLS® Home Price Index (HPI) climbed 0.6% month-over-month but was still down 1.2% on a year-over-year basis.

•              The actual (not seasonally adjusted) national average sale price was up 7.4% on a year-over-year basis.

Read the recently released national sales statistics for November of 2024.

UPDATE - CREA’s Residential Market Forecast for 2025.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate

The Canadian Real Estate Association (CREA) recently released national sales statistics for October 2024.

Home sales activity recorded over Canadian MLS® Systems increased 7.7% month-over-month in October 2024, reaching its highest level since April 2022.

“The jump in home sales last month was an October surprise, although with the big interest rate cut of 50 basis points announced during the last week of the month, the increase was more likely related to the surge in new listings we saw in September,” said Shaun Cathcart, CREA’s Senior Economist. “There probably won’t be another rush of new supply like that until next spring, and at that point, mortgage rates should also be close to their expected lows. With that in mind, you can think of the October numbers as a preview for what we might expect next year.”

Highlights:

• National home sales jumped 7.7% month-over-month in October.

•  Actual (not seasonally adjusted) monthly activity came in 30% above October 2023.

•  The number of newly listed properties were down 3.5% month-over-month.

•  The MLS® Home Price Index (HPI) edged down 0.1% month-over-month and was down 2.7% on a year-over-year basis.

•  The actual (not seasonally adjusted) national average sale price was up 6% on a year-over-year basis in October.

Read the recently released national sales statistics for October of 2024.

UPDATE - CREA’s Residential Market Forecast for 2025.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate

The Canadian Real Estate Association (CREA) recently released national sales statistics for September 2024.

Following the Bank of Canada’s third interest rate cut of the year, national home sales increased slightly in September compared to August. This follows a similar pattern of gains recorded in the months following the first two rate cuts.

“Sales gains are now three for three in the months following interest rate cuts, which is a trend even though the increases weren’t headline-grabbing,” said Shaun Cathcart, CREA’s Senior Economist. “That said, with the pace of rate cuts now expected to be much faster than previously thought, it’s possible some buyers may choose to hold off on a purchase for now. This could further boost the rebound expected in 2025 at the expense of the last few months of this year.”

Highlights:

• National home sales rose 1.9% month-over-month in September.

• Actual (not seasonally adjusted) monthly activity came in 6.9% above September 2023.

• The number of newly listed properties jumped 4.9% month-over-month.

• The MLS® Home Price Index (HPI) inched up 0.1 % month-over-month but was still down 3.3% on a year-over-year basis.

• The actual (not seasonally adjusted) national average sale price was up 2.1% on a year-over-year basis in September.

Read the recently released national sales statistics for September of 2024.

UPDATE - CREA’s Residential Market Forecast for 2025.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate

The Canadian Real Estate Association (CREA) recently released national sales statistics for August 2024.

National home sales increased in June following the Bank of Canada’s first interest rate cut since 2020, and activity posted another small gain in August on the heels of the second rate cut in late July, but the bigger picture appears to be a market mostly stuck in a holding pattern.

“Despite some fledgling signs of life to kick off the long-awaited monetary policy easing cycle, Canadian housing market activity still looks to be stuck in the same holding pattern it’s been in all year,” said Shaun Cathcart, CREA’sSenior Economist. “That said, with ever more friendly interest rates now all but guaranteed later this year and into 2025, it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well-behaved in most of the country.”

Highlights of this report:

•              National home sales edged up 1.3% month-over-month in August.

•              Actual (not seasonally adjusted) monthly activity came in 2.1% below August 2023.

•              The number of newly listed properties ticked up 1.1% month-over-month.

•              The MLS® Home Price Index (HPI) was unchanged month-over-month but was down 3.9% year-over-year.

•              The actual (not seasonally adjusted) national average sale price was almost unchanged (+0.1%) on a year-over-year basis in August.

Read the recently released national sales statistics for August of 2024.

LAST UPDATED IN JUNE - Read also: CREA’s Residential Market Forecast.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate

The Canadian Real Estate Association (CREA) recently released national sales statistics for July 2024.

While there were early signs of renewed momentum in June following the Bank of Canada’s first interest rate cut since 2020, activity in Canada’s housing market took a pause in July.

 “With another rate cut announced on July 24, we’ve now seen two rate cuts in a row, and the expected pace of future policy easing has steepened considerably, with markets now anticipating rate cuts at every remaining Bank of Canada decision this year,” said Shaun Cathcart, CREA’s Senior Economist. “Combine that with a record amount of demand waiting in the wings, and the forecast for a rekindling of Canadian housing activity going into 2025 has just gone from a layup to a slam dunk.”

Highlights of this report:

•              National home sales edged back 0.7% month-over-month in July.

•              Actual (not seasonally adjusted) monthly activity came in 4.8% above July 2023.

•              The number of newly listed properties ticked up 0.9% month-over-month.

•              The MLS® Home Price Index (HPI) edged up 0.2% month-over-month but was down 3.9% year-over-year.

•              The actual (not seasonally adjusted) national average sale price was almost unchanged (-0.2%) on a year-over-year basis in July.

Read the recently released national sales statistics for July of 2024.

UPDATED IN JUNE - Read also: CREA’s Residential Market Forecast.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate

The Canadian Real Estate Association (CREA) recently released national sales statistics for June 2024.

Activity in Canada’s housing market saw some early signs of renewed life in June 2024, following the Bank of Canada’s interest rate cut at the beginning of the month.

“It wasn’t a ‘blow the doors off’ month by any means, but Canada’s housing numbers did perk up a bit on a month-over-month basis in June following the first Bank of Canada rate cut,” said Shaun Cathcart, CREA’s Senior Economist. “Year-over-year comparisons don’t look great mainly because of how many buyers were still jumping into the market last spring, but that’s a story about last year. What’s happening right now is that sales were up from May to June, market conditions tightened for the first time this year, and prices nationally ticked higher for the first time in 11 months.”

Highlights of this report:

• National home sales climbed 3.7% month-over-month in June.

• Actual (not seasonally adjusted) monthly activity came in 9.4% below June 2023.

• The number of newly listed properties rose 1.5% month-over-month.

• The MLS® Home Price Index (HPI) edged up 0.1% month-over-month but was down 3.4% year-over-year.

• The actual (not seasonally adjusted) national average sale price posted a 1.6% year-over-year decrease in June. Read the recently released national sales statistics for June of 2024.

UPDATED - Read also: CREA’s Residential Market Forecast.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate

The Canadian Real Estate Association (CREA) recently released national sales statistics for May 2024.

While May was another relatively uneventful month for many Canadian housing markets with national month-over-month home sales edging slightly lower and new listings moving only a little higher, the Bank of Canada’s recentrate drop will likely lead to increased activity moving forward.

“May was another sleepy month for housing activity in Canada, although it may prove to be the last of those now that interest rates have moved lower,” said Shaun Cathcart, CREA’s Senior Economist. “The Bank of Canada’s June 5 rate cut may have only been 25 basis points, but the psychological effect for many who have been sitting on the sidelines was no doubt huge. The question now turns to further rate cuts – specifically, how fast, and how far?”

Highlights:

• National home sales edged back 0.6% month-over-month in May.

• Actual (not seasonally adjusted) monthly activity came in 5.9% below May 2023.

• The number of newly listed properties ticked up 0.5% month-over-month.

• The MLS® Home Price Index (HPI) dipped 0.2% month-over-month and was down 2.4% year-over-year.

• The actual (not seasonally adjusted) national average sale price posted a 4% year-over-year decrease in May.

 Read the recently released national sales statistics for May of 2024.

Read also: CREA’s Residential Market Forecast.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate

The Canadian Real Estate Association (CREA) recently released national sales statistics for April 2024.

Canadian home sales dipped in April 2024 when compared to March, even as the number of properties available for sale rose to kick off the spring market.

Home sales activity recorded over Canadian MLS® Systems fell 1.7% between March and April 2024, coming in a little below the average of the last 10 years. 

“April 2023 was characterized by a surge of buyers re-entering a market with new listings at 20-year lows, whereas this spring thus far has been the opposite, with a healthier number of properties to choose from but less enthusiasm on the demand side,” said Shaun Cathcart, CREA’s Senior Economist.

Highlights of this report:

• National home sales declined 1.7% month-over-month in April.

• Actual (not seasonally adjusted) monthly activity came in 10.1% above April 2023.

• The number of newly listed properties rose 2.8% month-over-month.

• The MLS® Home Price Index (HPI) was unchanged month-over-month but dipped 0.9% year-over-year.

• The actual (not seasonally adjusted) national average sale price posted a 1.8% year-over-year decrease in April.

 Read the recently released national sales statistics for April of 2024.

Read also: CREA’s Residential Market Forecast.

TeamFisher.com hosted over 520,000 user sessions last year and displayed more than three million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate

The Canadian Real Estate Association (CREA) recently released national sales statistics for March 2024.

While there are expectations the Canadian housing market will pick up on some level this year, home sales and prices were mostly unchanged on a month-over-month basis in March 2024, according to the latest data from the Canadian Real Estate Association (CREA).

Home sales activity recorded over Canadian MLS® Systems edged up 0.5% between February and March 2024, holding around 10% below the average of the last 10 years.

“We’ll have to wait for the April data to really understand how buyers are responding to all these new properties for sale, but if you look at last spring as a guide and add to that record population growth in the last year and a central bank that is far more likely to cut this summer than raise like it did last year, it could get interesting,” said Shaun Cathcart, CREA’s Senior Economist. “Will the story be high interest rates keeping a lot of people on the sidelines this year, or the much expected and anticipated first rate cuts enticing a lot of people back into the market? Probably a bit of both.”

Highlights of this report:

• National home sales edged up 0.5% month-over-month in March.

• Actual (not seasonally adjusted) monthly activity came in 1.7% above March 2023.

• The number of newly listed properties declined 1.6% month-over-month.

• The MLS® Home Price Index (HPI) dipped 0.3% month-over-month but was up 0.7% year-over-year.

• The actual (not seasonally adjusted) national average sale price posted a 2% year-over-year increase in March.

 Read the recently released national sales statistics for March of 2024.

Read also: CREA’s Residential Market Forecast.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

TeamFisher.com hosted over 520,000 user sessions last year and displayed more than three million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate

The Canadian Real Estate Association (CREA) recently released national sales statistics for February 2024.

Canadian home prices as measured by the seasonally adjusted Aggregate Composite MLS® Home Price Index (HPI) were flat on a month-over-month basis in February 2024, ending a streak of five declines that began last fall, according to the latest data from the Canadian Real Estate Association (CREA).

The fact that prices were unchanged from January to February was noteworthy given they had dropped 1.3% from December to January. Considering how stable the seasonally adjusted MLS® HPI tends to be, shifts this abrupt are exceedingly rare.“The market has been showing some early signs of life over the last couple of months, probably no surprise given how much pent-up demand is out there,” said Larry Cerqua, Chair of CREA. “There’s a consensus that the market will probably look quite a bit different this year compared to 2022 and 2023, so if you’re hoping to buy or sell a property in 2024, contact a REALTOR® in your area and get your game plan ready today,” continued Cerqua.

“It’s looking like February may end up being the last relatively uneventful month of the year as far as the 2024 housing story goes,” said Shaun Cathcart, CREA’s Senior Economist. “With so much demand having piled up on the sidelines, the story will likely be less about the exact timing of interest rate cuts and more about how many homes come up for sale this year.”

Highlights of this report:

• National home sales dipped 3.1% month-over-month in February.

• Actual (not seasonally adjusted) monthly activity came in 19.7% above February 2023.

• The number of newly listed properties edged up 1.6% month-over-month.

• The MLS® Home Price Index (HPI) was flat month-over-month and was up 0.8% year-over-year.

• The actual (not seasonally adjusted) national average sale price posted a 3.5% year-over-year increase in February.

 Read the recently released national sales statistics for February of 2024.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

TeamFisher.com hosted over 520,000 user sessions last year and displayed more than three million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate