Canadian home sales rise in July

Posted August 15, 2019

Ottawa, ON, August 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up in July 2019 compared to June.

Highlights:

  • National home sales rose 3.5% month-over-month (m-o-m) in July.
  • Actual (not seasonally adjusted) activity was up 12.6% year-over-year (y-o-y).
  • The number of newly listed homes edged back 0.4% m-o-m.
  • The MLS® Home Price Index (HPI) climbed 0.6% m-o-m and 0.2% y-o-y.
  • The actual (not seasonally adjusted) national average sale price was up 3.9% y-o-y.

Home sales recorded via Canadian MLS® Systems rose for the fifth consecutive month in July, putting them about 15% above the six-year low reached in February 2019 but still more than 10% below the highs reached in 2016 and 2017. (Chart A)

Activity advanced in about 60% of all local markets. While the monthly increase was led by Greater Vancouver (GVA)...Read More

Canadian home sales hold steady in June

Posted July 15, 2019

Ottawa, ON, July 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were little changed in June 2019 from the previous month.

Highlights:

  • National home sales edged back 0.2% month-over-month (m-o-m) in June.
  • Actual (not seasonally adjusted) activity ticked up 0.3% year-over-year (y-o-y).
  • The number of newly listed homes rose 0.8% m-o-m.
  • The MLS® Home Price Index (HPI) climbed 0.3% m-o-m in June but was down 0.3% y-o-y.
  • The actual (not seasonally adjusted) national average sale price was up 1.7% y-o-y.

Home sales recorded via Canadian MLS® Systems were little changed in June 2019 following a string of monthly gains recorded in March, April and May. Although running close to its 10-year average and up nearly 10% from the six-year low reached in February 2019, activity remains well below levels recorded over much of 2015,...Read More

Canadian home sales rise again in May 2019

Posted June 14, 2019

Ottawa, ON, June 14, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales climbed further in May 2019.

Highlights:

  • National home sales rose 1.9% month-over-month (m-o-m) in May.
  • Actual (not seasonally adjusted) activity was up 6.7% year-over-year (y-o-y).
  • The number of newly listed homes edged back by 1.2% m-o-m.
  • The MLS® Home Price Index (HPI) fell 0.2% m-o-m in May, the fifth straight decline.
  • The actual (not seasonally adjusted) MLS® HPI stood 0.6% below May 2018.
  • The actual (not seasonally adjusted) national average sale price was up 1.8% y-o-y.

Home sales recorded via Canadian MLS® Systems rose by 1.9% in May 2019. Together with monthly gains in March and April, activity in May reached the highest level since January 2018. While sales stood 8.9% above the six-year low reached in February 2019, this latest increase has only...Read More

Quarterly Forecasts

Posted June 14, 2019

CREA Updates Resale Housing Market Forecast

Ottawa, ON, June 14, 2019 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate boards and associations in 2019 and 2020.

Many of the economic fundamentals that support housing activity remain strong outside of the Prairies as well as Newfoundland and Labrador. Following the release of CREA’s previous forecast in March, population and employment growth has remained strong and the unemployment rate has fallen further. Additionally, the Bank of Canada is widely expected to not raise interest rates over the rest of the year.

Budget 2019 also raised the maximum individual withdrawal limit under the Home Buyers’ Plan (HBP) from $25,000 to $35,000 and introduced the First Time Homebuyer Incentive, a shared equity program whereby the...Read More

Canadian home sales rise in April 2019

Posted May 15, 2019

Ottawa, ON, May 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales climbed in April 2019.

Highlights:

  • National home sales improved by 3.6% month-over-month (m-o-m) in April.
  • Actual (not seasonally adjusted) activity was up 4.2% year-over-year (y-o-y).
  • The number of newly listed homes climbed 2.7% m-o-m.
  • The MLS® Home Price Index (HPI) eased by 0.3% y-o-y in April.
  • The national average sale price edged up 0.3% y-o-y.

Home sales recorded via Canadian MLS® Systems rose by 3.6% m-o-m in April 2019. After having dropped in February to the lowest level since 2012, the rebound in sales over the past two months still leaves activity slightly below readings posted over most of the second half of 2018. (Chart A)

April sales were up in about 60% of all local markets, with the Greater Toronto Area (GTA) accounting...Read More

Canadian home sales edge higher in March 2019

Posted April 15, 2019

Ottawa, ON, April 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales edged higher in March 2019 after having declined sharply the previous month.

Highlights:

  • National home sales edged up 0.9% month-over-month (m-o-m) in March.
  • Actual (not seasonally adjusted) activity was down 4.6% year-over-year (y-o-y).
  • The number of newly listed homes rose 2.1% m-o-m.
  • The MLS® Home Price Index (HPI) eased by 0.5% y-o-y in March.
  • The national average sale price fell 1.8% y-o-y.

Home sales via Canadian MLS® Systems edged up 0.9% in March 2019 following a sharp drop in February, leaving activity near some of the lowest levels recorded in the last six years. (Chart A)

There was an even split between the number of markets where sales rose from the previous month and those where they waned. Among Canada’s larger cities, activity improved...Read More

Canadian home sales drop sharply in February 2019

Posted March 15, 2019

Ottawa, ON, March 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales dropped sharply from January to February 2019.

Highlights:

  • National home sales plummeted 9.1% month-over-month (m-o-m) in February.
  • Actual (not seasonally adjusted) activity was down 4.4% year-over-year (y-o-y).
  • The number of newly listed homes fell 3.2% m-o-m.
  • The MLS® Home Price Index (HPI) was virtually unchanged (-0.1% y-o-y).
  • The national average sale price fell by 5.2% y-o-y.

Home sales via Canadian MLS® Systems plunged 9.1% m-o-m in February 2019 to the lowest level since November 2012. The month-over-month decline was the largest recorded since the B-20 stress test came into effect in January of last year. (Chart A)

The number of homes trading hands was down from the previous month in three-quarters of all local markets, including all major cities.

Actual (not seasonally adjusted) sales activity...Read More

Canadian home sales improve in January 2019

Posted February 15, 2019

Ottawa, ON, February 15, 2019 – Statistics 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%...Read More

Canadian home sales fall further in December

Posted January 15, 2019

Ottawa, ON, January 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales posted a fourth-straight monthly decline in December 2018.

Highlights:

  • National home sales fell 2.5% from November to December.
  • Actual (not seasonally adjusted) activity was down by 19% from one year ago.
  • The number of newly listed homes was little changed from November to December.
  • The MLS® Home Price Index (HPI) was up 1.6% year-over-year (y-o-y) in December.
  • The national average sale price fell by 4.9% y-o-y in December.

Home sales via Canadian MLS® Systems fell by 2.5% in December 2018 compared to November, capping the weakest annual sales since 2012. Monthly declines in activity since September have fully retrenched its summer rally and returned it near the lowest level since early 2013.

Transactions declined in about 60% of all local markets in December, led...Read More

Canadian home sales activity softens further in November

Posted December 17, 2018

Ottawa, ON, December 17, 2018 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales posted another monthly decline in November 2018.

Highlights:

  • National home sales fell 2.3% from October to November.
  • Actual (not seasonally adjusted) activity was down by 12.6% from one year ago.
  • The number of newly listed homes declined by 3.3% from October to November.
  • The MLS® Home Price Index (HPI) was up 2% year-over-year (y-o-y) in November.
  • The national average sale price retreated by 2.9% y-o-y in November.

Home sales via Canadian MLS® Systems fell by 2.3% in November 2018, adding to the decline in October of 1.7%. While the number of homes trading hands is still up from its low point in the spring, it remains below monthly levels posted from 2014 through 2017. (Chart A)

Transactions declined in just over half of all...Read More