Canadian Home Sales Improve in January 2019

Posted February 19, 2019

Canadian home sales improve in January 2019 – Statistics^[1] released today by The Canadian Real Estate Association (CREA) show national home sales in January 2019 were up from the previous month but remained below levels recorded one year ago.

Highlights:

National home sales rose 3.6% between December 2018 and January 2019.
Actual (not seasonally adjusted) activity was down by 4% from one year ago.
The number of newly listed homes edged up 1% month-over-month in January.
The MLS® Home Price Index (HPI) rose 0.8% year-over-year (y-o-y) in January.
The national average sale price fell by 5.5% y-o-y in January.

Home sales via Canadian MLS® Systems climbed 3.6% in January 2019 compared to December 2018 (Chart A). The number of homes trading hands was up from the previous month in half of all local markets, led by Montreal, Ottawa and Winnipeg.

Actual (not seasonally adjusted) were down 4% from year-ago levels and turned in the weakest January since 2015. They also came in below the 10-year average for the month on a national basis and in Canada’s three westernmost provinces, Ontario and Newfoundland & Labrador.

“Homebuyers are still adapting to tightened mortgage regulations brought in last year, “said CREA President Barb Sukkau. “However, their impact on homebuyers varies by location, housing type and price segment. All real estate is local. A professional REALTOR® remains your best source for information and guidance in negotiating the purchase or sale of a home during these changing times,” added Sukkau.

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charlene