Ottawa, ON, December 15, 2016 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were down on a month-over-month basis in November 2016.
- National home sales fell 5.3% from October to November.
- Actual (not seasonally adjusted) activity remained 1.6% above levels in November 2015.
- The number of newly listed homes edged down 0.4% from October to November.
- The MLS® Home Price Index (HPI) in November was up 14.4% year-over-year (y-o-y).
- The national average sale price climbed 7.3% y-o-y in November.
The number of homes trading hands via Canadian MLS® Systems declined 5.3 percent month-over-month in November 2016. This represents the largest monthly decline in activity since August 2012. As a result, the number of homes changing hands now stands at the lowest level since September 2015.
Activity was down on a month-over-month basis in about two-thirds of all local markets, including Canada’s most active...