• Canadian Real Estate Association says Jan sales +3.7% MOM after +7.9% in Dec.
  • Number of transactions +22% YOY, the largest gain since May 2021, mainly from base effect.
  • Activity is on par with stronger spring months of 2023 but 9% below the 10-year average.
  • New listings +1.5% MOM, after -5.1% in Dec.
  • Average resale price +7.6% YOY; price index +0.4% YOY.
  • “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.
  • Concerns over a housing market resurgence similar to what happened last spring have grown.

CANADA DATA: Home Sales Rise Again From Pent-Up Demand

Last updated at:Feb-14 14:31By: Jessica Cairns
  • Canadian Real Estate Association says Jan sales +3.7% MOM after +7.9% in Dec.
  • Number of transactions +22% YOY, the largest gain since May 2021, mainly from base effect.
  • Activity is on par with stronger spring months of 2023 but 9% below the 10-year average.
  • New listings +1.5% MOM, after -5.1% in Dec.
  • Average resale price +7.6% YOY; price index +0.4% YOY.
  • “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.
  • Concerns over a housing market resurgence similar to what happened last spring have grown.

MNI Podcasts

Unearthing fresh policy thinking & market intelligence.

Copyright 2024Twitter, Xlinkedin logo