Canadian home price increases decelerated for the ninth month in a row in January as two-thirds of local markets saw home sales decline compared to a year ago, according to a report from the Canadian Real Estate Association.

CREA is the Canadian equivalent to the National Association of Realtors. Nationally, Canadian home prices rose 3.1 percent year over year last month, according to CREA’s multiple listing service-based home price index. That’s the smallest gain since April 2011, CREA said.

Source: CREA 

Nonetheless, all regions except the Lower Mainland and Greater Vancouver saw prices increase on an annual basis in January.

On a non-seasonally adjusted basis, the average sale price for homes was $354,754 in January, up 2 percent on an annual basis.

Meanwhile, home sales fell 5.2 percent year over year last month, though they edged up by 1.3 percent on a month-to-month basis. January was the fifth straight month in which home sales saw little change compared to the previous month, CREA said. Home sales fell significantly in August after tightened mortgage lending rules went in to effect, the trade group added.

Source: CREA 

Nationally, new listings rose 1.6 percent month to month in January — the first monthly increase since September — and unsold inventory stood at 6.6 months.


Source: CREA  

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
We're giving away 3 free ICLV tickets at Connect Now next week. Register and attend live for your chance to win!REGISTER×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription