Industry News

Canadian real estate sales slip

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Canada's major market home sales in January via the Multiple Listing Service totaled 24,046 units on a seasonally adjusted basis, down from 25,024 units in December, according to the Canadian Real Estate Association However, seasonally adjusted new listings amounted to 37,763 units in January, up 3.6 percent from the same month last year. Despite the increase in new listings, the number of homes for sale remains in short supply in many markets. Reflecting the continuation of a short supply of new listings, the major market MLS residential average price of $227,416 rose 10.4 percent year-over-year. According to Pierre Beauchamp, CREA's chief executive officer, "Housing demand continues to run strongly. Full-time job growth has been phenomenal in recent months, with strong increases in the number of jobs in first-time and move-up home buyer age groups." "Moreover, the Conference Board of Canada reports that consumer confidence rose in January and surpassed levels recorded last ye...