Canadian Home Sales dip slightly in October
Statistics released today by The Canadian Real Estate Association (CREA) show national home sales declined between September and October 2018.
Highlights of the CREA’s Monthly Report.
- National home sales fell 1.6% from September to October.
- Actual (not seasonally adjusted) activity was down by 3.7% from one year ago.
- The number of newly listed homes eased 1.1% from September to October.
- The MLS® Home Price Index (HPI) was up 2.3% year-over-year (y-o-y) in October.
- The national average sale price slipped by 1.5% y-o-y in October.
The CREA says transactions declined in more than half of all local markets, led by Hamilton-Burlington, Montreal and Edmonton. Although activity did improve modestly in many markets, it was offset by a decline in sales elsewhere by a factor of two.
Across the Prairies, benchmark home prices remained below year-ago levels in Calgary (-2.6%), Edmonton (-2.4%), Regina (-3.6%) and Saskatoon (-0.9%)
The CREA’s Statistics show that the Home Price Index in Saskatoon is up .46 percent from 1 month ago, but is still -.86 percent from a year ago, and almost 6 percent less than 5 years ago.
In Regina, the Home Price Index is virtually unchanged from a month ago, is 3.6 percent lower than it was a year ago, and is almost 9 percent lower than it was 5 years ago.