The Canadian Real Estate Association (CREA) recently released national sales statistics for December of 2020.
According to the report, "Home sales recorded over Canadian MLS® Systems jumped by 7.2% between November and December to set another new all-time record."
"Seasonally adjusted activity was running at an annualized pace of 714,516 units in December 2020 – the first time on record that monthly sales at seasonally adjusted annual rates have ever topped the 700,000 mark."
"The month-over-month increase in national sales activity from November to December was driven by gains of more than 20% in the Greater Toronto Area (GTA) and Greater Vancouver.e handful from in Ontario reflects a supply issue rather than a demand issue."
Highlights of CREA's report
National home sales rose 7.2% on a month-over-month (m-o-m) basis in December.
Actual (not seasonally adjusted) activity was up 47.2% year-over-year (y-o-y).
The number of newly listed properties climbed 3.4% from November to December.
The MLS® Home Price Index (HPI) rose 1.5% m-o-m and was up 13% y-o-y.
The actual (not seasonally adjusted) national average sale price posted a 17.1% y-o-y gain in December.
Read the entire report on Canadian MLS® sales for December of 2020.
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