//IN THE NEWS
CREA:
Canadian home sales moderate further in December
According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity posted its third consecutive month-over-month decline in December 2013. The number of home sales processed through the MLS Systems of Canadian real estate Boards and Associations and other co-operative listing systems was down 1.8 per cent on a month-over-month basis in December 2013, marking the third straight monthly decline. Activity now stands 5.2 per cent below the peak reached in September 2013. Sales were down on a month-over-month basis in about 60 per cent of all local markets in December, with declines in Calgary, Edmonton and Greater Toronto more than offsetting gains in Greater Vancouver and the Fraser Valley, as well as a sizeable rebound from a quiet November in St. Catherines. “Activity has gradually eased back from stronger than expected levels last summer and is now roughly in line with the ten year monthly average,” says CREA President Laura Leyser. “We’ll likely continue getting mixed signals in the months ahead, with positive year-over-year comparisons for sales masking the recent moderation in the monthly sales trend. As always, local housing 52 metro vancouver new home guide | feb 21 - mar 7, 2014
›› National home sales fell 1.8 per cent from November to December. ›› Actual (not seasonally adjusted) activity stood 12.9 per cent above weak December 2012 levels. ›› The number of newly listed homes dropped 4.3 per cent from November to December. ›› The Canadian housing market remains in balanced territory. ›› The national average sale price rose 10.4 per cent on a year-overyear basis in December. ›› The MLS Home Price Index (HPI) rose 4.3 per cent year-over-year in December.