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Canadian Home Sales Moderate Further In January

OTTAWA — According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity posted its fifth consecutive month-over-month decline in January 2014.
Highlights:
•       National home sales fell 3.3% from December to January.
•       Actual (not seasonally adjusted) activity stood 0.4% above January 2013 levels.
•       The number of newly listed homes edged up 0.2% from December to January.
•       The Canadian housing market remains in balanced territory.
•       The national average sale price rose 9.5% on a year-over-year basis in January.
•       The MLS® Home Price Index (HPI) rose 4.8% year-over-year in January.
 The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations and other co-operative listing systems fell 3.3 per cent on a month-over-month basis in January 2014. This marks the fifth straight monthly decline, and leaves activity 9.1 per cent below the peak reached in August 2013. For a complete report, see PDF.


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