According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity was little changed on a month-over-month basis in December 2012, holding it in line with levels reported in August when demand first geared down in the wake of tighter mortgage lending rules.
Highlights:
• National home sales edged 0.5% lower from November to December.
• Actual (not seasonally adjusted) activity down 17.4% from December 2011.
• Number of newly listed homes dropped 1.3% from November to December.
• Canadian housing market remains firmly in balanced territory.
• National average sale price up 1.6% year-over-year in December.
• MLS® HPI up 3.3% in December, the smallest gain since April 2011.
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