By Norm Fisher December 19, 2013 - The Canadian Real Estate Association (CREA), released national sales statistics for the month of November, 2013 recently. According to the CREA, the average price of a Canadian home rose sharply (9.8 percent) on a year-over-year basis, even as sales remained flat on a monthly basis. Home prices were up in over two-thirds of Canadian markets with supply being the key variable. Annual price gains were more modest when looking at the MLS® Home Price Index, which is supposed to take more of an “apples to apples” approach. That index shows price rising by 4.1 percent in Canada, and by 3.9 percent here at home in Saskatoon.
Highlights of CREA’s report
- National home sales edged 0.1% lower from October to November.
- Actual (not seasonally adjusted) activity was 5.9% above November 2012 levels.
- The number of newly listed homes rose 1.8% from October to November.
- The Canadian housing market remains in balanced territory.
- The MLS® Home Price Index (HPI) rose 4.1% year-over-year in November.
Read the entire report on Canadian MLS® sales for November, 2013.
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Copyright Norm Fisher Royal LePage Saskatoon Real Estate