Search Results for: 98

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.

- 30 -

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 rose 3.1% from April to May.
• Actual (not seasonally adjusted) activity stood 2.7% above May 2014 levels.
• The number of newly listed homes was little changed from April to May.
• The Canadian housing market remains balanced overall.
• The MLS® Home Price Index (HPI) rose 5.17% year-over-year in May.
• The national average sale price rose 8.1% on a year-over-year basis in May; excluding Greater Vancouver and Greater Toronto, it increased by 2.4%.

The number of home sales processed through the MLS® Systems of Canadian real estate

Boards and Associations rose 3.1 per cent in May 2015 compared to April. This marks the fourth consecutive month-over-month increase and raises national activity to its highest level in more than five years. (Chart A)

May sales were up from the previous month in about 60 per cent of all local markets, led by increases in the Greater Toronto Area, Calgary, Edmonton, Ottawa and Montreal.

“CMHC announced in April that effective June 1 it was hiking mortgage default insurance premiums for homebuyers with less than a 10% down payment, so some buyers may have jumped off the fence and purchased in May to beat the increase,” said CREA President Pauline Aunger. “It’s one of the factors that could have affected sales last month. That said, all real estate is local, with trends that reflect a combination of local and national factors. REALTORS® remain your best source for information about sales and listings where you live or might like to in the future.”

“Sales in and around the Greater Toronto area played a starring role in the monthly increase in May sales,” said Gregory Klump, CREA’s Chief Economist. “At the same time, the rebound in sales over the past few months in Calgary and Edmonton suggests that heightened uncertainty among some home buyers in these housing markets may be easing.”

Actual (not seasonally adjusted) activity in May 2015 stood 2.7 per cent above levels reported for the same month last year and 5.7 per cent above the 10 year average for the month.

Sales were up on a year-over-year basis in about half of all local markets, led by activity in the Lower Mainland of British Columbia, Greater Toronto and Montreal.

The number of newly listed homes was virtually unchanged (-0.2 per cent) in May compared to April. This reflects an even split between housing markets where new listings rose and where they fell, with little monthly change for new listings in most of Canada’s largest and most active urban markets.

The national sales-to-new listings ratio was 57.6 per cent in May, up from a low of 50.4 per cent in January when it reached its most balanced point since March 2013. The ratio has risen steadily along with sales so far this year as new supply has remained little changed.

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 May. About a third of local markets were above the 60 per cent threshold in May, comprised mostly of markets in and around the Greater Toronto Area and markets in British Columbia.

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.

The national balance between supply and demand has tightened since the beginning of the year, when buyers had more negotiating power than they had in nearly two years. There were 5.6 months of inventory on a national basis at the end of May 2015, its lowest reading in three years.

The Aggregate Composite MLS® HPI rose by 5.17 per cent on a year-over-year basis in May, up slightly from the 4.97 per cent year-over-year gain logged in April. Gains have generally held to the range from five to five and a half per cent since the beginning of 2014. (Chart B)

Year-over-year price growth accelerated in May in all Benchmark home categories tracked by the index with the exception of one-storey single family homes.

Two-storey single family homes continue to post the biggest year-over-year price gains (+7.18 per cent), with more modest increases for one-storey single family homes (+4.11 per cent), townhouse/row units (+4.09 per cent) and apartment units (+2.91 per cent).

Year-over-year price growth varied among housing markets tracked by the index. Greater

Vancouver (+9.41 per cent) and Greater Toronto (+8.90 per cent) continued to post by far the biggest year-over-year price increases. By comparison, Fraser Valley, Victoria, and Vancouver Island prices all recorded year-over-year gains of about four per cent in May.

Price gains in Calgary continued to slow, with a year-over-year increase of just 1.21 per cent in May. This was the smallest gain in more than three years and the eleventh consecutive monthly slowdown in year-over-year price growth.

Elsewhere, prices held steady on a year-over-year basis in Saskatoon and Ottawa, rose slightly in Greater Montreal and fell by about three per cent in Regina and 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 May 2015 was $450,886, up 8.1 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 $344,988 and the year-over-year gain is reduced to 2.4 per cent.

- 30 -

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, January 15, 2015- According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity was down on a month-over-month basis in December 2014.

Highlights:

• National home sales fell 5.8% from November to December.
• Actual (not seasonally adjusted) activity stood 7.9% above December 2013 levels.
• The number of newly listed homes rose 1.1% from November to December.
• The Canadian housing market remains balanced.
• The MLS® Home Price Index (HPI) rose 5.4% year-over-year in December.
• The national average sale price rose 3.8% on a year-over-year basis in December.

The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations fell 5.8 per cent in December 2014 compared to November and remained above year-ago levels.

December sales were down from the previous month in almost two-thirds of all local housing markets, led by declines of about 25 per cent in both Calgary and Edmonton. Activity also slipped by about five per cent in the Greater Toronto Area.

“Home sales activity remained above year-ago levels in most local housing markets,” said CREA President Beth Crosbie. “Sales were also stronger in December than they were the previous month in about one-third of all local markets in Canada. This underscores the fact that all real estate is local. Nobody knows this better than your local REALTOR®, who remains your best source for information about how the housing market is shaping up where you currently live or might like to in the future.”

“December sales were down from the previous month in a number of Canada’s largest and most active housing markets, indicating a broadly based cooling off for Canadian home sales as 2014 came to an end,” said Gregory Klump, CREA’s Chief Economist. “Even so, sales remain above year-ago levels in many of the same markets.”

“Given the uncertain outlook for oil prices, it’s no surprise consumer confidence in Alberta softened and moved some home buyers to the sidelines,” said Klump. “With regards to slower activity in Calgary and Edmonton, sales in these two markets had been running strong all year before they returned to levels that are entirely average for the month of December.”

Actual (not seasonally adjusted) activity in December stood 7.9 per cent above levels reported in the same month in 2013. Sales for the month were up from year-ago levels in about two-thirds of all local markets, led by Greater Vancouver and the Fraser Valley, the Greater Toronto Area, and Montreal.

Some 481,162 homes traded hands via the MLS® Systems of Canadian real estate Boards and Associations on an actual (not seasonally adjusted) basis in 2014 — the highest annual level in seven years. Annual sales activity in 2014 was up 5.1 per cent from the previous year and stood 2.6 per cent above the 10-year annual average.

The number of newly listed homes rose 1.1 per cent in December compared to November. Led by Calgary, Regina and Ottawa, new supply was up in just over half of all local markets.

The national sales-to-new listings ratio was 51.8 per cent in December, down from the mid-55 per cent range in the previous four months.

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 just over two-thirds of all local markets in November. More than half of the British Columbia, Alberta and Southern Ontario markets that had been in seller’s market territory in November returned to balanced market territory in December. This list included Greater Vancouver, Calgary, Edmonton, and 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 6.2 months of inventory nationally at the end of December 2014, up from 5.8 months in November. Together with the softer reading for the sales-to-new listings ratio, this suggests that the Canadian housing market has become more balanced.

The Aggregate Composite MLS® HPI rose by 5.38 per cent on a year-over-year basis in December. Monthly price gains held steady between five and five-and-a-half per cent throughout 2014.

In December, year-over-year price growth decelerated compared to November for townhouse/row units but accelerated for other types of homes tracked by the index. Two-storey single family homes continue to post the biggest year-over-year price gains (+6.98 per cent), followed closely by townhouse/row units (+5.31 per cent) and one-storey single family homes (+4.51 per cent). Price growth remained comparatively more modest for apartment units (+3.51 per cent).

Price gains varied among housing markets tracked by the index. As in recent months,

Calgary (+8.80 per cent), Greater Toronto (+7.89 per cent), and Greater Vancouver (+5.82 per cent) continued to post the biggest year-over-year increases. By contrast, prices in Regina declined by 3.48 per cent.

In other markets from West to East, prices were up between 2.2 and 2.6 per cent on a year-over-year basis in the Fraser Valley, Victoria, and Vancouver Island, and by less than one per cent in Saskatoon, Ottawa, Greater Montreal, and 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 December 2014 was $405,233, representing an increase of 3.8 per cent year-over-year and its smallest increase since May 2013.

The national average home price remains skewed by sales activity in Greater Vancouver and Greater Toronto, which are among Canada’s most active and expensive housing markets. Excluding these two markets from the calculation, the average price is a relatively more modest $319,481 and the year-over-year increase shrinks to 1.9 per cent.

- 30 -

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.

Ottawa, ON, September 15, 2014- According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity rose nearly two per cent from July to August 2014.

Highlights:

• National home sales rose 1.8% from July to August.
• Actual (not seasonally adjusted) activity stood 2.1% above August 2013 levels.
• The number of newly listed homes fell 1.2% from July to August.
• The Canadian housing market remains in balanced territory.
• The MLS® Home Price Index (HPI) rose 5.3% year-over-year in August.
• The national average sale price also rose 5.3% on a year-over-year basis in August.

The number of home sales processed through the MLS® Systems of Canadian real estate

Boards and Associations rose 1.8 per cent on a month-over-month basis in August 2014, marking the seventh consecutive monthly increase, and the highest level for sales since January 2010.

Although activity rose in fewer than half of all local housing markets in August, the national tally was fuelled by monthly sales increases in Greater Vancouver, Calgary and Greater Toronto.

“Sales picked up in some of Canada’s most active and expensive real estate markets which fuelled another national increase,” said CREA President Beth Crosbie. “Even so, the national increase in sales does not reflect local trends in many markets across Canada. As always, all real estate is local and whether you’re looking to buy or sell, your local REALTOR® is your best source of information about the housing market where you currently live or might like to in the future.”

Actual (not seasonally adjusted) activity in August stood 2.1 per cent above levels reported in the same month last year. August sales were up from year-ago levels in just over half of all local markets, led by Greater Vancouver and Calgary.

“Sales activity in recent months has remained stronger than was anticipated earlier this year,” said Gregory Klump, CREA’s Chief Economist. “Listings and sales this spring were deferred due to unseasonably harsh weather, which subsequently supported activity once the delayed spring home buying season got into gear. This trend was reinforced by a decline in mortgage interest rates.”

“The boost from deferred sales is still expected to prove transitory,” continued Klump. “While national activity has yet to cool, sales were down from the previous month in the majority of Canada’s local markets, which may be early evidence that the transitory boost is fading. That said, low interest rates will continue to support housing affordability and sales activity.”

Year-to-date sales activity is up 4.3 per cent compared to the first eight months of 2013 and remains in line with the 10-year average for the period.

The number of newly listed homes fell 1.2 per cent in August compared to July. Led by Greater Toronto, new supply was down in about 60 per cent of local markets.

The national sales-to-new listings ratio was 55.5 per cent in August, up from 53.9 per cent in July. While this means the housing market became marginally tighter, it remains well entrenched within the range between 40 and 60 per cent that marks balanced territory.

Just over half of all local markets posted a sales-to-new listings ratio in this range in August. Of the remainder, more than half were sitting above the 60 per cent threshold that marks the border between balanced and seller’s market territory, almost all of which are located in British Columbia, Alberta and Southern 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 5.8 months of inventory nationally at the end of August 2014, down from 6.0 months in May, June and July. As with the sales-to-new listings ratio, the number of months of inventory remains well within balanced market territory but does point to a market that has become tighter in recent months.

The Aggregate Composite MLS® HPI rose by 5.33 per cent on a year-over-year basis in August. This was unchanged compared to July and little changed from June. Year-over-year price growth in August picked up slightly for townhouse/row units and apartment units but slowed for one-storey single family homes and was unchanged for two-storey single family homes.

Two-storey single family homes continue to post the biggest year-over-year price gains (+6.32 per cent), followed closely by townhouse/row units (+5.59 per cent) and one-storey single family homes (+5.23 per cent). Price growth for apartment units remains comparatively more modest (+3.38 per cent).

Year-over-year price growth varied among local housing markets tracked by the index. As in recent months, the biggest gains were posted by Calgary (+9.83 per cent), Greater Toronto (+7.82 per cent), and Greater Vancouver (+5.01 per cent).

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 2014 was $398,618, up 5.3 per cent from the same month last year.

The national average price continues to be skewed upward by sales activity in Greater Vancouver and Greater Toronto, which are among Canada’s largest and most expensive housing markets. Excluding these two markets from the calculation, the average price is a relatively more modest $324,738 and the year-over-year increase shrinks to 3.9 per cent.

- 30 -

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 111,000 REALTORS® working through some 90 real estate Boards and Associations.

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