Canadian Home Sales Drop in January

Ottawa, ON, February 15, 2018 – Statistics released ^[1] released today by The Canadian Real Estate Association (CREA) show national home sales fell sharply in January 2018.

Highlights:

• National home sales rose 4.5% from November to December.
• Actual (not seasonally adjusted) activity was up 4.1% year-over-year (y-o-y).
• The number of newly listed homes climbed 3.3% from November to December.
• The MLS® Home Price Index (HPI) in December was up 9.1% y-o-y.
• The national average sale price advanced by 5.7% y-o-y.

Home sales via Canadian MLS® Systems dropped sharply in January after having climbed to the highest monthly level on record in December. Although activity retreated to the lowest monthly level in three years, January sales were on par with the 10-year monthly average. (Chart A)

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