Canadian home sales decline in January

Statistics released yesterday by the Canadian Real Estate Association (CREA), revealed that national resale housing activity in Canada retreated in January 2012 from the strong finish seen in December of 2011.

Highlights from the report indicate that home sales were down by 4.5% from December to January and the number of newly listed homes was down 1.4% from December to January. The 4.5% decline in home sales was the first decline since August of 2011. In addition, the national average home price was up less than 2% year-over-year in January, making it among the smallest increases over the past year.

CREA’s President Gary Morse, notes that “All real estate is local”, so suggests speaking to your local REALTOR® to get a firm understanding of how price trends are affecting your neighbourhood. He also notes that “the national housing market is stabilizing and remains well balanced.”

For the full report, please visit CREA’s web site at: http://creanews.ca/

For any real estate assistance in the Oakville, Burlington, Milton area contact Mary at maryobrienc21@cogeco.ca

Mary O'Brien

Mary O'Brien

Sales Representative
CENTURY 21 Miller Real Estate Ltd., Brokerage*
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