Blog by Tomasz Wdowczyk

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2016 Statistics

Ottawa, ON, February 16, 2016 16 - According to statistics released today by The Canadian Real Estate Association (CREA), national home sales rebounded in January 2016 compared to the previous month.

Highlights:

  • National home sales edged up by 0.5% from December to January.
  • Actual (not seasonally adjusted) activity was up 8% compared to January 2015.
  • The number of newly listed homes retreated by 4.9% from December to January.
  • The Canadian housing market has tightened but remains balanced overall
  • The MLS® Home Price Index (HPI) rose 7.7% year-over-year in January.
  • The national average sale price rose 17% on a year-over-year basis in January; however, excluding British Columbia and Ontario, it edged down 0.3%.
     

The Bank of Canada announced on March 9th, 2016 that it was keeping its trend-setting target overnight lending rate at 0.5 per cent.

The Bank sets the rate at a level it thinks will keep inflation in the range between one and three percent (with a bulls eye of 2 percent). In announcing its decision to keep interest rates steady, it said it expects inflation will soon sag below two per cent, with “factors that pushed total CPI inflation up … likely [to] unwind in the months ahead.”