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Canadian homes sales grow for two consecutive months for the first time in a year: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for March 2023.


"Home sales recorded over Canadian MLS® Systems posted a 1.4% increase from February to March 2023. The small rise built on an increase of the same size in February, marking the first back-to-back monthly gains in more than a year. 


“As the spring market heats up and it looks as though some buyers are coming off the sidelines, it’s important to remember that the
intense market conditions of recent years have not gone anywhere, they’ve just been on pause,” said Jill Oudil, Chair of CREA. “With buyers re-entering a market with historically low supply, homes are not only selling but selling faster. If you’re looking for information and guidance about how to buy or sell a property in this rapidly changing market, contact a REALTOR® in your area,” continued Oudil.

“The 2023 spring housing market is getting going after a tough 2022, and the green shoots continued to pile up in March,” said Shaun Cathcart, CREA’s Senior Economist. “Sales are trending up, markets have tightened considerably, the Bank of Canada is on hold, and the MLS® Home Price Index is stabilizing across the country. That said, the supply issue is still with us. New listings are at 20-year lows.” 



Highlights of this report:

•              National home sales rose 1.4% month-over-month in March.

•              Actual (not seasonally adjusted) monthly activity came in 34.4% below March 2022.

•              The number of newly listed properties dropped a further 5.8% month-over-month.

•              The MLS® Home Price Index (HPI) edged up 0.2% month-over-month but was down 15.5% year-over-year.

•              The actual (not seasonally adjusted) national average sale price posted a 13.7% year-over-year decline in March.


Read the recently released national sales statistics for March of 2023.

Read also CREA's Updated Housing Market Forecast for 2023.


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 Vidorra


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Canadian home sales rise in February despite inventory declines: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for February 2023.


"Home sales recorded over Canadian MLS® Systems posted a 2.3% increase from January to February 2023. Gains were led by the Greater Toronto Area (GTA) and Greater Vancouver. 



"The actual (not seasonally adjusted) number of transactions in February 2023 came in 40% below an incredibly strong month of February in 2022. The February 2023 sales figure was comparable to what was seen for that month in 2018 and 2019. 


“The similarities between 2023 and the recovery year of 2019 continued to emerge in February, with sales up, the market tightening, and month-over-month price declines getting smaller,” said Shaun Cathcart, CREA’s Senior Economist. “But the biggest similarity was a sharp drop in seasonally adjusted new listings. Future sellers, many of whom will also be buyers, are likely biding their time until the optimum time to list and buy something else. For most, that’s in the spring. Will buyers jump off the fence to snap homes up in 2023 once they finally start to hit the market? They did in 2019 ” 



Highlights of the report:

•              National home sales rose 2.3% month-over-month in February.

•              Actual (not seasonally adjusted) monthly activity came in 40% below February 2022.

•              The number of newly listed properties dropped 7.9% month-over-month.

•              The MLS® Home Price Index (HPI) edged down 1.1% month-over-month and was down 15.8% year-over-year.

•              The actual (not seasonally adjusted) national average sale price posted an 18.9% year-over-year decline in February.

Read the recently released national sales statistics for February of 2023.

Read also CREA's Housing Market Forecast for 2023.


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 4.4 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 Vidorra


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Posted in CREA, Market News

The Canadian Real Estate Association (CREA) recently released national sales statistics for January 2023.


"Home sales recorded over Canadian MLS® Systems edged back down 3% between December 2022 and January 2023, giving back all of December’s small gains and rejoining the mild downward trend observed since last summer.  


"The actual (not seasonally adjusted) number of transactions in January 2023 came in 37.1% below the second-best January ever in 2022. The January 2023 sales figure was the lowest for that month since 2009. 


“Early 2023 feels a lot like 2019, where after a year in which it became much harder to qualify for a mortgage, everyone was wondering if the market would pick up in the spring,” said Shaun Cathcart, CREA’s Senior Economist. “In 2019 the market started off slow, as there wasn’t much to buy. It took off once spring listings started to come out. With the Bank of Canada increasingly signaling that rates are now at the top, it’s possible the spring market this year could also surprise, particularly in areas where prices have been stable or are now stabilizing. Buyers are likely feeling increasingly confident in taking on variable rate mortgages, and 2023 will probably be a good window of opportunity to be able to engage in a calmer home search and buying experience following the intense market conditions of the last few years.” 


Highlights:

•              National home sales declined 3% month-over-month in January.

•              Actual (not seasonally adjusted) monthly activity came in 37.1% below January 2022.

•              The number of newly listed properties rose 3.3% month-over-month.

•              The MLS® Home Price Index (HPI) declined by 1.9% month-over-month and was down 12.6% year-over-year.

•              The actual (not seasonally adjusted) national average sale price posted an 18.3% decline year-over-year in January.

Read the recently released national sales statistics for January of 2023.

Read also CREA's Housing Market Forecast for 2023.


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 4.4 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 Vidorra


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Posted in CREA, Market News

The Canadian Real Estate Association (CREA) recently released national sales statistics for December 2022.


"Home sales recorded over Canadian MLS® Systems edged up by 1.3% between November and December 2022. Gains were led by Ottawa and Edmonton. 


"The actual (not seasonally adjusted) number of transactions in December 2022 came in 39.1% below a near-record for that month last year.


“The housing market story of 2022 was about high inflation and rising interest rates. The 2023 market will depend on the timing and extent those factors move back in the other direction,” said Shaun Cathcart, CREA’s Senior Economist. “Demand for housing continues to grow and supply remains the biggest issue across the entire spectrum. Whether that plays out in the rental market in 2023 or shifts back over into the ownership space is a matter of how quickly the Bank of Canada can get inflation under control and starts turning the dial back down on borrowing costs.” 

 

Highlights of CREA's Report

•             National home sales rose 1.3% month-over-month in December.

•             Actual (not seasonally adjusted) monthly activity came in 39.1% below December 2021.

•             The number of newly listed properties dropped 6.4% month-over-month.

•             The MLS® Home Price Index (HPI) declined by 1.6% month-over-month and was down 7.5% year-over-year.

•             The actual (not seasonally adjusted) national average sale price posted a 12% year-over-year decline in December.

Read the recently released national sales statistics for December of 2022.

Read also CREA's Housing Market Forecast for 2023.


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 4.4 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 Vidorra


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Posted in CREA, Market News

The Canadian Real Estate Association (CREA) recently released national sales statistics for October 2022.


"Home sales recorded over Canadian MLS® Systems edged up by 1.3% between September and October 2022. While not a large increase, it was significant in that it was the first monthly gain since February. 


"The actual (not seasonally adjusted) number of transactions in October 2022 came in 36% below that same month last year, and stood about 15% below the pre-COVID-19 10-year average for the month."

 

Highlights of CREA's report               

•             National home sales were up 1.3% on a month-over-month basis in October.

•             Actual (not seasonally adjusted) monthly activity came in 36% below October 2021.

•             The number of newly listed properties edged up 2.2% month-over-month.

•             The MLS® Home Price Index (HPI) declined by 1.2% month-over-month and was down 0.8% year-over-year.

•             The actual (not seasonally adjusted) national average sale price posted a 9.9% year-over-year decline in October.


Read the recently released national sales statistics for October, 2022.


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 4.4 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 Vidorra


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Posted in CREA, Market News

The Canadian Real Estate Association (CREA) recently released national sales statistics for September of 2022.


"Home sales recorded over Canadian MLS® Systems fell by 3.9% between August and September 2022. From May through August, month-over-month declines have been progressively smaller. The September result marked a slight increase in the current sales slowdown that began with the Bank of Canada’s first rate hike back in March.  


"While about 60% of all local markets saw sales fall from August to September, the national number was pulled lower by the fact markets with declines included Greater Vancouver, Calgary, the Greater Toronto Area (GTA) and Montreal. 

 
"Breaking it down regionally, most of the recent monthly declines had been in markets across Ontario and, to a lesser extent, in B.C. The standout trend in August and September was that quite a few of those Ontario markets saw monthly price declines get stopped in their tracks, mainly in the Greater Golden Horseshoe. In a few markets prices even popped up a bit between August and September.

"Looking across the Prairies, prices in Edmonton and Winnipeg are down a bit from their peaks, while prices are sliding sideways in Calgary, Regina, and Saskatoon. Similarly in Quebec, prices have dipped in Montreal but are mostly flat in Quebec City." 

 


 

Highlights of CREA's report                

    • National home sales were down 3.9% on a month-over-month basis in September.
    • Actual (not seasonally adjusted) monthly activity came in 32.2% below September 2021.
    • The number of newly listed properties edged down 0.8% month-over-month.
    • The MLS® Home Price Index (HPI) declined by 1.4% month-over-month but was still up 3.3% year-over-year.
    • The actual (not seasonally adjusted) national average sale price posted a 6.6% year-over-year decline in September.


Read the recently released national sales statistics for September, 2022.


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 4.4 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 Vidorra


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Posted on by
Posted in CREA, Market News

The Canadian Real Estate Association (CREA) recently released national sales statistics for August of 2022.


"Home sales recorded over Canadian MLS® Systems edged down a slight 1% between July and August 2022. While this was the sixth consecutive month-over-month decline in housing activity, it was the smallest of the six as the national sales slowdown triggered by rising interest rates continues to moderate. 


"Breaking it down regionally, most of the monthly declines in recent months have been in markets across Ontario and, to a lesser extent, in British Columbia; however, in August it was Ontario markets that contributed most to the overall national decline.


"Looking across the Prairies, prices in Alberta appear to have peaked. Prices are still rising slightly in Saskatchewan, while Manitoba recorded the only decline. In Quebec, prices have dipped somewhat in the last couple of months. On the East coast, the softening of prices that had been confined to Halifax-Dartmouth is now also appearing in New Brunswick and Newfoundland and Labrador. By contrast, prices in PEI continue to edge ahead on a month-over-month basis."
 


 

Highlights of CREA's report                

  • National home sales edged down 1% on a month-over-month basis in August.
  • Actual (not seasonally adjusted) monthly activity came in 24.7% below August 2021.
  • The number of newly listed properties dropped 5.4% month-over-month.
  • The MLS® Home Price Index (HPI) edged down 1.6% month-over-month but was still up 7.1% year-over-year.
  • The actual (not seasonally adjusted) national average sale price posted a 3.9% year-over-year decline in August
Read the recently released national sales statistics for August of 2022
Read also: CREA's revised housing 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 4.4 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 Vidorra


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Posted in CREA, Market News
Canadian home sales slow further in July 2022: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for July of 2022.


“Home sales recorded over Canadian MLS® Systems fell by 5.3% between June and July 2022. While this was the fifth consecutive month-over-month decline in housing activity, it was also the smallest of the five." 


"Sales were down in about three-quarters of all local markets, led by the Greater Toronto Area (GTA), Greater Vancouver and the Fraser Valley, Calgary and Edmonton."


 

Highlights of CREA's report

•                     National home sales fell by 5.3% on a month-over-month basis in July.

•                     Actual (not seasonally adjusted) monthly activity came in 29.3% below July 2021.

•                     The number of newly listed properties dropped by 5.3% month-over-month.

•                     The MLS® Home Price Index (HPI) edged down 1.7% month-over-month but was still up 10.9% year-over-year.

•                     The actual (not seasonally adjusted) national average sale price posted a 5% year-over-year decline in July.

Read the recently released national sales statistics for July of 2022


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 4.4 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 Vidorra


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Posted in CREA, Market News
Canadian home sales fall lower in June 2022: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for June of 2022.


“Home sales recorded over Canadian MLS® Systems fell by 5.6% between May and June 2022. Although larger declines were recorded in April and May, monthly activity has dropped to slightly below average levels for the month of June." 


"Sales were down in three-quarters of all local markets, led by Canada’s biggest cities – the Greater Toronto Area (GTA), Greater Vancouver, Calgary, Edmonton, Ottawa and Hamilton-Burlington to name a few."


 

Highlights of CREA's report

  • National home sales fell by 5.6% on a month-over-month basis in June.
  • Actual (not seasonally adjusted) monthly activity came in 23.9% below the June record set in 2021.
  • The number of newly listed properties was up 4.1% month-over-month.
  • The MLS® Home Price Index (HPI) edged down 1.9% month-over-month but was still up 14.9% year-over-year.
  • The actual (not seasonally adjusted) national average sale price posted a 1.8% year-over-year decline in June.


Read the recently released national sales statistics for June of 2022


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 4.4 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 Vidorra


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Canadian home sales continue to slow through May, 2022: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for May of 2022.


“Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were down in May 2022. Home sales recorded over Canadian MLS® Systems declined by 8.6% between April and May 2022. This built on a larger drop recorded in April, leaving monthly activity at pre-COVID levels recorded in the second half of 2019 and only slightly above the 10-year average." 


"With interest rates on the rise, and with 5-year fixed rates getting well out ahead of what the Bank of Canada is expected to do later this year, home sales have cooled sharply in recent months. Prices have also been halted in their tracks following a record-setting five months of growth between October 2021 and February 2022."


 

Highlights of CREA's report

  • National home sales fell by 8.6% on a month-over-month basis in May.
  • Actual (not seasonally adjusted) monthly activity came in 21.7% below the May record set in 2021.
  • The number of newly listed properties was up 4.5% month-over-month.
  • The MLS® Home Price Index (HPI) edged down 0.8% month-over-month but was still up 19.8% year-over-year.
  • The actual (not seasonally adjusted) national average sale price posted a 3.4% year-over-year gain in May.


Read the recently released national sales statistics for May of 2022.

Read also, the revised national housing forecast for 2022 and 2023.


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 4.4 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 Vidorra


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Posted in CREA, Market News
Canadian home sales fall lower as interest rates skyrocket: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for April of 2022.


“Home sales recorded over Canadian MLS® Systems dropped by 12.6% between March and April 2022. The decline placed monthly activity at the lowest level since the summer of 2020." 


“Following a record-breaking couple of years, housing markets in many parts of Canada have cooled off pretty sharply over the last two months, in line with a jump in interest rates and buyer fatigue,” said Jill Oudil, Chair of CREA. “For buyers, this slowdown could mean more time to consider options in the market. For sellers, it could necessitate a return to more traditional marketing strategies. Of course, there are significant regional differences, so your best bet is to contact your local REALTOR®."


 Highlights of CREA's report•                     

•                     National home sales dropped by 12.6% on a month-over-month basis in April.

•                     Actual (not seasonally adjusted) monthly activity came in 25.7% below the monthly record set in 2021.

•                     The number of newly listed properties was down 2.2% month-over-month.

•                     The MLS® Home Price Index (HPI) edged down 0.6% month-over-month but was still up 23.8% year-over-year.

•                     The actual (not seasonally adjusted) national average sale price posted a 7.4% year-over-year gain in April.

Read the recently released national sales statistics for April of 2022.


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 4.4 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 Vidorra


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Posted on by
Posted in CREA, Market News

The Canadian Real Estate Association (CREA) recently released national sales statistics for March of 2022.


“Statistics released today by the Canadian Real Estate Association (CREA) show national home sales and newly available listings both retreated in March 2022 after having jumped briefly higher in February." 


“Home sales recorded over Canadian MLS® Systems fell back 5.4% between February and March 2022. The decline puts activity back in line with where it had been since last fall. 


Sales were down in about half of local markets in March, led by declines in the Greater Toronto Area (GTA) and Calgary.


The actual (not seasonally adjusted) number of transactions in March 2022 came in 16.3% below the all-time record set in March 2021. That said, as has been the case since last summer, it remains the second-highest level on record for that month "

 

 Highlights of CREA's report

  • National home sales fell back by 5.4% on a month-over-month basis in March.
  • Actual (not seasonally adjusted) monthly activity came in 16.3% below the all-time sales record set in March 2021.
  • The number of newly listed properties was down 5.5% month-over-month.
  • The MLS® Home Price Index (HPI) rose 1% month-over-month and was up 27.1% year-over-year.
  • The actual (not seasonally adjusted) national average sale price posted an 11.2% year-over-year gain in March.

Read the recently released national sales statistics for March of 2022.


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 4.4 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 Vidorra


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