The Canadian Real Estate Association (CREA) announced that home sales activity edged up on a month-over-month basis in January 2013.
Nationally, sales activity has held faily steady after gearing down last August after the change in mortgage lending rules.
The number of home sales processed through the MLS® Systems of real estate Boards and Associations and other cooperative listing systems in Canada edged up 1.3 per cent on a month-over-month basis in January 2013. This marks the fifth month in a row that national sales activity has shown little change from levels in the previous month.
CREA President Wayne Moes reports that "There is little new to report about national sales activity, which continues to hold fairly steady at the lower levels first reachen when mortgage rules were tightened in mid-2012" "That said, things are becoming more interesting among local markets, with improving sales in Vancouver and Toronto likely to come as something of a surprise to some. As always, all real estate is local, so buyers and sellers should speak to their REALTOR® to understand how the housing market is shaping up where they live or are considering to live."
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*information courtesy of CREA