Blog by Tomasz Wdowczyk

<< back to article list

MARKET REPORT

Ottawa, ON, January 16, 2017 - According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were up on a month-over-month basis in December 2016.

 The number of homes trading hands via Canadian MLS® Systems rose 2.2 % month-over-month in December 2016. The rebound recovered less than half of the drop in activity from October to November, when it posted the biggest monthly retreat in more than four years after tightened mortgage regulations came into effect. 

 Activity was up on a month-over-month basis in about 60% of all local markets.

The number of newly listed homes fell 3.0% in December 2016 compared to November. New listings were down in about 60% of all local markets.

 Price gains remained strongest for two-storey single family homes and townhouse/row units (16.1% y-o-y and 15.4% y-o-y respectively), followed closely by one-storey single family homes (13.3% y-o-y) and apartment units (12.0% y-o-y).

 The national average price continues to be pulled upward by sales activity in Greater Vancouver and the GTA, which remain two of Canada's tightest, most active and expensive housing markets.

 The information contained in this news release combines both major market and national sales information from MLS®  Systems from the previous month.