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Ottawa, ON, January 15, 2016 -According to statistics released today by The Canadian Real Estate Association (CREA), national home sales edged lower in December 2015 compared to the previous month, but held above year-ago levels.

Highlights:

• National home sales edged back by 0.6% from November to December.
• Actual (not seasonally adjusted) activity was up 10% compared to December 2014.
• The number of newly listed homes rose 2.2% from November to December.
• The Canadian housing market remains balanced overall.
• The MLS® Home Price Index (HPI) rose 7.3% year-over-year in December.
• The national average sale price rose 12% on a year-over-year basis in December; excluding Greater Vancouver and Greater Toronto, it increased by 5.4%.

The number of homes trading hands via MLS® Systems of Canadian real estate Boards and Associations edged back by 0.6 percent in December 2015 compared to November. Activity nonetheless remains close to a six-year high.

December sales were down from the previous month in slightly more than half of all local markets. Monthly sales declines in Calgary, Edmonton, the York Region of the Greater Toronto Area (GTA) and Hamilton-Burlington offset monthly activity gains recorded elsewhere.

“An increasingly short supply of listings in Vancouver and Toronto blunted the impact of changes to mortgage regulations announced in December that were aimed at cooling these housing markets,” said CREA President Pauline Aunger. “Buyers there had been expected to bring forward their purchase decisions before new regulations take effect in February 2016, but they faced a growing shortage of supply. Meanwhile, supply is ample in many other major urban markets, particularly those where buyers have become cautious amid economic uncertainty. All real estate is local, and REALTORS® remain your best source for information about sales and listings where you live or might like to in the future.”

“December mirrored the main themes of 2015, with strong sales activity and price growth across much of British Columbia and Ontario offsetting declines in activity among oil producing regions,” said Gregory Klump, CREA’s Chief Economist. “The recent decline and uncertain outlook for oil prices means that housing market prospects are unlikely to improve in the near term in regions where job market prospects are tied to oil production.”

Actual (not seasonally adjusted) sales rose 10.0 percent on a year-over-year basis in December 2015. Activity was up compared to December 2014 in about 60 percent of all local markets, led by the Lower Mainland of British Columbia, the GTA and Montreal.

Sales activity in the fourth quarter of 2015 advanced by 2.0% quarter-over-quarter and hit the highest quarterly level in six years. Annual home sales in 2015 were up 5.5 from the previous year and reached the second-highest annual level on record – just 3.0% short of the annual record set in 2007.

The number of newly listed homes rose 2.2 percent in December compared to November. The monthly increase built on the 3.3 percent gain logged in November and lifted new supply to the highest monthly level in almost six years. December’s increase was driven by gains in the Fraser Valley, Calgary, Edmonton, the GTA and Montreal.

The national sales-to-new listings ratio eased to 55.5 percent in December – its lowest reading since March 2015. A sales-to-new listings ratio between 40 and 60 percent is generally consistent with balanced housing market conditions, with readings below and above this range indicating buyers’ and sellers’ markets respectively.

The ratio was within this range in about 40 percent of all local housing markets in December. Slightly more than one-third of local markets recorded a ratio above 60 percent, almost all of which are located in British Columbia and Ontario.

The number of months of inventory is another important measure of the balance between housing supply and demand. It represents the number of months it would take to completely liquidate current inventories at the current rate of sales activity.

There were 5.4 months of inventory on a national basis at the end of December

2015, unchanged from November and the lowest level in nearly six years. The national figure is being pulled lower by increasing market tightness in B.C. and Ontario. Many of these markets, particularly around Greater Vancouver and the GTA, ended 2015 with a record low or near-record low number of homes listed for sale.

The Aggregate Composite MLS® HPI rose by 7.27 percent on a year-over-year basis in December – the largest gain in over five years. Year-over-year price growth accelerated for single family homes and townhouse/row units but slowed for apartment units.

Two-storey single family homes continue to post the biggest year-over-year price gains (+9.15 percent), followed by one-storey single family homes (+6.63 percent), townhouse/row units (+6.12 percent) and apartment units (+4.96 percent).

Year-over-year price growth continued to range widely among housing markets tracked by the index. Greater Vancouver (+18.87 percent) and the Fraser Valley (14.35 percent) posted the largest gains, followed closely by Greater Toronto (+10.01 percent). By comparison, Victoria and Vancouver Island prices posted year-over-year gains in the range from six to eight percent.

By contrast, prices retreated by about two percent on a year-over-year basis in Calgary and Saskatoon and by nearly four percent in Regina. While the home price declines in Calgary and Saskatoon are a fairly recent trend, prices in Regina have been trending lower since early 2014.

Prices crept higher on a year-over-year basis in Ottawa (+0.62 percent), rose modestly in Greater Montreal (+1.81 percent) and outstripped overall consumer price inflation in Greater Moncton (+3.88 percent).

The MLS® Home Price Index (MLS® HPI) provides a better gauge of price trends than is possible using averages because it is not affected by changes in the mix of sales activity the way that average price is.

The actual (not seasonally adjusted) national average price for homes sold in December 2015 was $454,342, up 12.0 percent on a year-over-year basis.

The national average price continues to be pulled upward by sales activity in Greater Vancouver and Greater Toronto, which are among Canada’s most active and expensive housing markets. If these two housing markets are excluded from calculations, the average is a more modest $336,994 and the year-over-year gain is reduced to 5.4 percent. Even then, the gain reflects a tug of war between strong average price gains in housing markets around the GTA and the Lower Mainland of British Columbia versus flat or declining average prices elsewhere in Canada. If British Columbia and Ontario are excluded from calculations, the average price slips even lower to $294,363, representing a year-over-year decline of 2.2 percent.

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PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 109,000 REALTORS® working through some 90 real estate Boards and Associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca

Ottawa, ON, October 15, 2015 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity eased in September 2015 from the month before.

Highlights:

• National home sales declined by 2.1% from August to September.
• Actual (not seasonally adjusted) activity edged up 0.7% compared to September 2014.
• The number of newly listed homes retreated 2.1% from August to September.
• The Canadian housing market remains balanced overall.
• The MLS® Home Price Index (HPI) rose 6.9% year-over-year in September.
• The national average sale price rose 6.1% on a year-over-year basis in September; excluding Greater Vancouver and Greater Toronto, it increased by 2.9%.

The number of homes trading hands via MLS® Systems of Canadian real estate Boards and Associations fell by 2.1 per cent in September 2015 compared to August.

Sales were down in more than half of all local markets in September, led by declines in Greater Vancouver, Calgary and the Greater Toronto Area (GTA).

“Sales are off the peak reached earlier this year but are still running strong, particularly in British Columbia and Ontario,” said CREA President Pauline Aunger. “That said, sales strength varies considerably among markets and price segments across Canada. All real estate is local, and

REALTORS® remain your best source for information about sales and listings where you live or might like to in the future.”

“Although national sales activity was not as strong in September as it was earlier this year, a lack of supply in some parts of the country is likely keeping a lid on transactions,” said Gregory Klump, CREA’s Chief Economist. “The GTA and Greater Vancouver made sizeable contributions to the monthly decline in national sales activity. They also rank among the tightest urban housing markets in the country due to a shortage of inventory and supply of land on which to build, which is why prices there continue to grow strongly.”

Actual (not seasonally adjusted) activity in September 2015 eclipsed activity one year ago by 0.7 per cent. Sales in September 2015 reached the second-highest on record for the month, standing just 0.3 per cent (130 transactions) below the record set in September 2009.

Actual (not seasonally adjusted) sales were up from year-ago levels in a little over half of all local markets, led by the Lower Mainland region of British Columbia. Calgary posted the largest year-over-year decline in activity compared to the record set last year.

In line with sales activity, the number of newly listed homes also declined by 2.1 per cent in September compared to August led by the Lower Mainland, Victoria, the GTA, Hamilton-Burlington and Montreal.

The national sales-to-new listings ratio was 56.8 per cent in September. With sales and new listings having posted monthly declines of equal magnitude in September, the sales-to-new listings ratio held steady compared to August. A sales-to-new listings ratio between 40 and 60 per cent is generally consistent with balanced housing market conditions, with readings above and below this range indicating sellers’ and buyers’ markets respectively.

The ratio was within this range in half of local housing markets in September. Of the remainder, the majority breached the 60 per cent threshold in September and consisted almost entirely of markets in British Columbia and those in and around the GTA.

The number of months of inventory is another important measure of the balance between housing supply and demand. It represents the number of months it would take to completely liquidate current inventories at the current rate of sales activity.

There were 5.7 months of inventory on a national basis at the end of September 2015, up slightly from the 5.6 months recorded in each of the previous four months.

The Aggregate Composite MLS® HPI rose by 6.90 per cent on a year-over-year basis in September, accelerating from 6.43 per cent in August, 5.90 per cent in July, and 5.43 in June. The recent acceleration in year-over-year growth follows about a year-and-a-half of gains that held steady within a range of between five and five-and-a-half per cent.

Year-over-year price growth picked up in September for all Benchmark home types tracked by the index, particularly for apartment units.

Two-storey single family homes continue to post the biggest year-over-year price gains (+9.07 per cent), followed by one-storey single family homes (+6.48 per cent), townhouse/row units (+4.40 per cent) and apartment units (+4.22 per cent).

Year-over-year price growth varied among housing markets tracked by the index. Greater Vancouver (+13.72 per cent) and Greater Toronto (+10.46 per cent) continue to post by far the biggest year-over-year price increases. Meanwhile, price gains in the Fraser Valley have accelerated to almost nine per cent.

By comparison, Victoria and Vancouver Island prices logged year-over-year gains between five and six per cent in September.

For the second consecutive month, prices in Calgary were flat on a year-over-year basis. Prices in Saskatoon and Ottawa also ran roughly even with year-ago levels.

Elsewhere, home prices were up from September 2014 levels by about one-and-a-half per cent in Greater Montreal and by about two-and-a-half per cent in Greater Moncton. Prices fell by four per cent in Regina, extending year-over-year price declines there that began in 2013.

The MLS® Home Price Index (MLS® HPI) provides a better gauge of price trends than is possible using averages because it is not affected by changes in the mix of sales activity the way that average price is.

The actual (not seasonally adjusted) national average price for homes sold in September 2015 was $433,649, up 6.1 per cent on a year-over-year basis.

The national average price continues to be pulled upward by sales activity in Greater Vancouver and Greater Toronto, which are among Canada’s most active and expensive housing markets. If these two markets are excluded from calculations, the average is a more modest $334,705 and the year-over-year gain is reduced to 2.9 per cent.

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PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 109,000 REALTORS® working through some 90 real estate Boards and Associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca

Ottawa, ON, September 15, 2015 -According to statistics1 released today by The Canadian Real Estate Association (CREA), national home sales activity posted a small month-over-month increase in August 2015.

Highlights:

• National home sales edged up by 0.3% from July to August.
• Actual (not seasonally adjusted) activity stood 4.0% above August 2014 levels.
• The number of newly listed homes rose 0.5% from July to August.
• The Canadian housing market remains balanced overall.
• The MLS® Home Price Index (HPI) rose 6.43% year-over-year in August.
• The national average sale price rose 8.7% on a year-over-year basis in August; excluding Greater Vancouver and Greater Toronto, it increased by 4.2%.

The number of homes trading hands via MLS® Systems of Canadian real estate Boards and Associations edged up 0.3 per cent in August 2015 compared to July and remains near levels that have changed little since reaching a five-year high in May. (Chart A)

Sales were little changed on a month-over-month basis among all local markets in August, with an even split between markets posting increases and those with declines.

“August marked the fourth month in a row for strong and stable national sales activity,” said CREA President Pauline Aunger. “While home prices increased in British Columbia and in the Greater Toronto Area, they have been holding fairly steady in many other parts of the country for some time now. All real estate is local and REALTORS® remain your best source for information about sales and listings where you live or might like to in the future.”

“Prices continue to rise in Ontario and British Columbia, where listings are either in short supply or heading in that direction,” said Gregory Klump, CREA’s Chief Economist. “August also provided early evidence that modest price growth is re-emerging in some markets in Quebec and New Brunswick. The continuation of low interest rates is supporting home sales and price trends, and is likely to keep doing so for some time.”

Actual (not seasonally adjusted) activity in August 2015 was up four per cent from the same month last year. It was the third highest August sales figure on record after 2005 and 2007, and stood 6.6 per cent above the 10-year average for August.

Actual (not seasonally adjusted) sales were up from year-ago levels in a little over 60 per cent of all local markets, led by the Lower Mainland region of British Columbia and the Greater Toronto Area (GTA). Sales in Calgary continued to post the largest year-over-year declines after having run near record levels there last year.

The number of newly listed homes edged up by 0.5 per cent in August compared to July, led by gains in Edmonton and the GTA.

The national sales-to-new listings ratio was 56.7 per cent in August, down slightly from 56.9 per cent in July. A sales-to-new listings ratio between 40 and 60 per cent is generally consistent with balanced housing market conditions, with readings above and below this range indicating sellers’ and buyers’ markets respectively.

The ratio was within this range in a little under half of local housing markets in August. More than one-third of all local markets breached the 60 per cent threshold in August, comprised mostly of markets in British Columbia together with those in and around the GTA.

The number of months of inventory is another important measure of the balance between housing supply and demand. It represents the number of months it would take to completely liquidate current inventories at the current rate of sales activity.

There were 5.6 months of inventory on a national basis at the end of August 2015, unchanged from the previous three months and holding at a three-year low for the measure.

The Aggregate Composite MLS® HPI rose by 6.43 per cent on a year-over-year basis in August, accelerating from the 5.90 year-over-year gain in July and 5.43 per cent in June. This recent acceleration in year-over-year growth follows gains that held steady within a range of about five and five-and-a-half per cent. (Chart B)

Year-over-year price growth picked up in August for all Benchmark home types tracked by the index with the exception of townhouse/row units.

Two-storey single family homes continue to post the biggest year-over-year price gains (+8.85 per cent), followed by one-storey single family homes (+6.09 per cent), townhouse/row units (+4.29 per cent) and apartment units (+3.08 per cent).

Year-over-year price growth varied among housing markets tracked by the index. Greater Vancouver (+11.96 per cent) and Greater Toronto (+9.99 per cent) continue to post by far the biggest year-over-year price increases. By comparison, year-over-year price growth in the Fraser Valley accelerated to about seven per cent, while Victoria and Vancouver Island prices logged year-over-year gains of about five per cent in August.

Prices in Calgary were flat on a year-over-year basis in August, marking the first month since September 2011 of no year-over-year price growth. Prices in Saskatoon also ran roughly even with year-ago levels.

Elsewhere, home prices were up from August 2014 levels by about one-and-a-half per cent in Greater Montreal, by about one per cent in Greater Moncton, and by about half of one per cent in Ottawa. Prices fell by about three-and-a-half per cent in Regina, extending year-over-year price declines there that began in 2013. (Table 1)

The MLS® Home Price Index (MLS® HPI) provides a better gauge of price trends than is possible using averages because it is not affected by changes in the mix of sales activity the way that average price is.

The actual (not seasonally adjusted) national average price for homes sold in August 2015 was $433,367, up 8.7 per cent on a year-over-year basis.

The national average price continues to be pulled upward by sales activity in Greater Vancouver and Greater Toronto, which are among Canada’s most active and expensive housing markets. If these two markets are excluded from calculations, the average is a more modest $338,755 and the year-over-year gain is reduced to 4.2 per cent.

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PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 109,000 REALTORS® working through some 90 real estate Boards and Associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca

Highlights:

•       National home sales edged back by 0.4% from June to July.

•       Actual (not seasonally adjusted) activity stood 3.4% above July 2014 levels.

•       The number of newly listed homes edged up 0.2 per cent from June to July.

•       The Canadian housing market remains balanced overall.

•       The MLS® Home Price Index (HPI) rose 5.9% year-over-year in July.

•       The national average sale price rose 8.9% on a year-over-year basis in July; excluding Greater Vancouver and Greater Toronto, it increased by 4.1%.

The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations declined by 0.4 per cent in July 2015 compared to June. While this marks the second consecutive monthly decline in activity, sales activity in May, June and July reached their highest monthly levels in more than five years. 

July sales were down from the previous month in about half of all local markets, led by declines in Hamilton-Burlington and in the Durham Region of the greater Toronto Area (GTA). The monthly decline in sales for these two markets represents a pullback from record levels in June and likely reflects an insufficient supply of listings. By contrast, sales in Newfoundland and Labrador were up most on a month-over-month basis, marking a rebound from a quiet month of June for the province.

“National sales activity remains solid, fuelled by strength in British Columbia and the Greater Toronto Area, where listings are in short supply or trending that way,” said CREA President Pauline Aunger. “That said, markets elsewhere across Canada are largely well balanced and in some cases have an ample supply of listings. As always, all real estate is local and REALTORS® remain your best source for information about sales and listings where you live or might like to in the future.”

“It’s fair to say that the strength of national sales is still a story about two cities, but it’s equally about how trends there are spreading out in their respective provinces,” said Gregory Klump, CREA’s Chief Economist. “Trends in British Columbia and Ontario have a big influence on the national figures, since they account for about 60 per cent of national housing activity. As a result, the national picture reflects how demand is running high for the short supply of single family homes in and around the GTA while the balance between supply and demand is tightening in B.C.’s Lower Mainland. These remain the only places in Canada where home prices are growing strongly.”

Actual (not seasonally adjusted) activity in July 2015 came in 3.4 per cent ahead of the same month last year, and marked the second highest July sales figure on record after 2009. Activity stood 12.6 per cent above the 10-year average for July.

Actual (not seasonally adjusted) sales were up from year-ago levels in just over half of all local markets, led by the Lower Mainland region of British Columbia and the GTA. While Calgary continued to post the largest year-over-year declines in sales compared to last year’s record levels, activity there is nonetheless running roughly in line with five and 10-year averages for sales during the month of July.

The number of newly listed homes was little changed (+0.2 per cent) in July compared to June, marking the fourth consecutive month in which new listings have held steady. New supply was up in a little more than half of all local markets, led by rebounds in Calgary and Edmonton which offset a small step down in the GTA.

The national sales-to-new listings ratio was 56.8 per cent in July, down slightly from 57.1 per cent in June. The measure has closely tracked the trend for sales this year as new supply has remained stable.

A sales-to-new listings ratio between 40 and 60 per cent is generally consistent with balanced housing market conditions, with readings above and below this range indicating sellers’ and buyers’ markets, respectively.

The ratio was within this range in about half of local housing markets in July. About one-third of all local markets breached the 60 per cent threshold in July, comprised mostly of markets in British Columbia together with those in and around the Greater Toronto Area.

The number of months of inventory is another important measure of the balance between housing supply and demand. It represents the number of months it would take to completely liquidate current inventories at the current rate of sales activity.

There were 5.6 months of inventory on a national basis at the end of July 2015, unchanged from the previous two months and a three-year low for the measure. The national balance between supply and demand has tightened since the beginning of the year as rising sales have drawn down on overall supply.

The Aggregate Composite MLS® HPI rose by 5.90 per cent on a year-over-year basis in July, accelerating from the 5.43 per cent year-over-year gain in June. Gains over the past year and a half had been holding steady within a range of about five and five and a half per cent. 

Year-over-year price growth picked up in July for all Benchmark home types tracked by the index. Two-storey single family homes continued to post the biggest year-over-year price gains (+8.16 per cent), with comparatively more modest increases for one-storey single family homes

(+4.88 per cent), townhouse/row units (+4.49 per cent) and apartment units (+2.96 per cent).

Year-over-year price growth varied among housing markets tracked by the index. Greater Vancouver (+11.23 per cent) and Greater Toronto (+9.39 per cent) continue to post by far the biggest year-over-year price increases. By comparison, year-over-year price growth in the Fraser Valley accelerated to about six per cent, while Victoria and Vancouver Island prices continued to log year-over-year gains of about four per cent in July.

Price gains in Calgary continued to slow, with a year-over-year increase of just 0.14 per cent in July. This was the smallest gain in nearly four years, with July’s reading down about 0.7% from the peak reached in November 2014 and up by about an equal percentage compared to the recent low point reached in April 2015. Prices continued running roughly even with year-ago levels in Saskatoon.

Elsewhere, home prices were up from July 2014 levels by just under two per cent in Greater Montreal and by just under one per cent in Ottawa. By comparison, prices fell by about three and a half per cent in Regina and by about one and a half per cent in Greater Moncton.

The MLS® Home Price Index (MLS® HPI) provides a better gauge of price trends than is possible using averages because it is not affected by changes in the mix of sales activity the way that average price is.

The actual (not seasonally adjusted) national average price for homes sold in July 2015 was $437,699, up 8.9 per cent on a year-over-year basis.

The national average home price continues to be upwardly distorted by sales activity in Greater Vancouver and Greater Toronto, which are among Canada’s most active and expensive housing markets. If these two markets are excluded from calculations, the average is a more modest $341,438 and the year-over-year gain is reduced to 4.1 per cent.

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PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 109,000 REALTORS® working through some 90 real estate Boards and Associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca