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Strong sales and weak supply continue to drive gains in Canadian home prices: CREA

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


Statistics released today by the Canadian Real Estate Association (CREA) show national home sales remained historically high in January 2022 despite historically low levels of both new and end-of-month supplies of properties for sale." 


“As expected, January was pretty quiet on the new listings side of things, with this year’s first big new supply numbers unlikely to emerge until the weather starts to warm up a bit,” said Cliff Stevenson, Chair of CREA. “The question is will that supply be overwhelmed by demand as it was last spring, or will we start to see the re-emergence of some of the many would-be sellers who have been hunkered down for the last two years? Either way it is shaping up to be another interesting year for the housing market, and your local REALTOR® has the information and guidance you’ll need if you are planning on buying or selling in 2022,” continued Stevenson. 

 

 Highlights of CREA's report

•             National home sales edged up 1% on a month-over-month basis in January.

•             Actual (not seasonally adjusted) monthly activity came in 10.7% below the record January in 2021.

•             The number of newly listed properties dropped 11% from December 2021 to January 2022.

•             The MLS® Home Price Index (HPI) rose a record 2.9% month-over-month and was up a record 28% year-over-year.

•             The actual (not seasonally adjusted) national average sale price posted a 21% year-over-year gain in January.


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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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Norm Fisher, TeamFisher

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 750 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 750 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

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