The Canadian Real Estate Association (CREA) released statistics on January 16, 2012 which show an increase in national resale housing activity from November to December 2011.
Highlights from the report indicate that sales activity rose 1.8% from November to December and there was a 3% increase in the number of newly listed homes in December from the previous month. In addition, the national average home price was up only 0.9% on a year-over-year basis. For the fourth consecutive month, activity was up.
Sales activity rose in more than half of all local markets but declines were seen in most of the remaining markets. In 2011, there were a total of 456,749 homes traded through the Canadian MLS® system. It is believed that the continued momentum in sales activity is largely a result of the consistent and attractive low financing rates.
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