Canadian Home Sales Edge Higher in January

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.

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