Canadian Housing

Canadian Home Sales Edge Higher in January

Happy 2013!

I received this update from my board office regarding home sales in Canada for the month of January. It contains a ton of interesting stats but all in all the market in this country is holding strong. The Guelph market is also doing very well. This year started off with a ton of investors purchasing up potential and existing income properties. As February comes to an end, I’m excited to see what March will bring. Hopefully we will se an influx of family homes listed as the hot spring market is just around the corner!

– Emily Cassolato.

Ottawa, ON, February 15, 2013 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity edged up on a month-over-month basis in January 2013. National sales activity has held fairly steady after gearing down last August in the wake of tightened mortgage lending rules.

Highlights:

National home sales rose 1.3% from December to January.
Actual (not seasonally adjusted) activity came in 5.2% under levels in January 2012.
The number of newly listed homes rose 1.6% from December to January.
The Canadian housing market remains firmly in balanced territory.
National average sale price was up 2% year-over-year in January.
The MLS® HPI rose 3.1% in January, the smallest gain since April 2011.

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