December 16, 2019
Statistics released today by the Canadian Real Estate Association (CREA) show national home sales continued to edge higher in November 2019.
Highlights:
- National home sales rose 0.6% month-over-month (m-o-m) basis in November.
- Actual (not seasonally adjusted) activity was up 11.3% year-over-year (y-o-y).
- The number of newly listed properties dropped by 2.7% m-o-m.
- The MLS® Home Price Index (HPI) advanced by 0.8% m-o-m and 2.6% y-o-y.
- The actual (not seasonally adjusted) national average sale price climbed 8.4% y-o-y.
Home sales recorded via Canadian MLS® Systems inched up by 0.6% November 2019. Notching its ninth straight monthly gain, activity stands 20% above the six-year low reached in February 2019 but 6% to 7% below heights recorded in 2016 and 2017.
CREA Updates Resale Housing Market Forecast
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 this year and for 2020.
Evidence suggests housing activity will continue to improve into 2020, with prices either continuing to rise or accelerating in many parts of Canada. Indeed, many housing market indicators continue to support this outlook.
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