According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity posted its fifth consecutive month-over-month decline in January 2014.
Highlights:
- National home sales fell 3.3% from December to January.
- Actual (not seasonally adjusted) activity stood 0.4% above January 2013 levels.
- The number of newly listed homes edged up 0.2% from December to January.
- The Canadian housing market remains in balanced territory.
- The national average sale price rose 9.5% on a year-over-year basis in January.
- The MLS® Home Price Index (HPI) rose 4.8% year-over-year in January.
The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations and other co-operative listing systems fell 3.3 per cent on a month-over-month basis in January 2014. This marks the fifth straight monthly decline, and leaves activity 9.1 per cent below the peak reached in August 2013.
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