Money CREA reports home sales in September up 15.5 per cent from year ago
Toronto, Vancouver Home Sales Soar In Possible Return To 'Rapid House Price Gains'
The Greater Toronto and Greater Vancouver housing markets are growing tighter, and that could mean a return to rapid house price growth, a new report says. In a report issued Thursday, Capital Economics noted that the supply of homes on the market is shrinking, even as buyers are returning, pointing to stronger house price growth. “The recent jump in the home sales-to-new listings ratio seems to point to a renewed period of rapid house price gains, which would normally be matched by a pick-up in consumption growth,” senior Canada economist Stephen Brown wrote.
OTTAWA — The Canadian Real Estate Association says the number of home sales in September was up 15.5 per cent compared with a year ago as sales in the country's big cities climbed higher.
The association says sales compared with a year ago were up in Canada's large urban markets, including B.C.'s Lower Mainland, Calgary, Edmonton, Winnipeg, the Greater Toronto Area, Hamilton-Burlington, Ottawa and Montreal.
On a month-over-month basis, home sales through the Canadian Multiple Listing Service were up 0.6 per cent in September.
Home sales in Canada have been rising since hitting a six-year low in February.
Pace of Canadian housing starts slowed in September but less than expected
Pace of Canadian housing starts slowed in September but less than expectedCanada Mortgage and Housing Corp. said Tuesday the seasonally adjusted annual rate fell 2.5 per cent month-over-month to 221,202 units in September compared with 226,871 in August.
Related video: What to consider when breaking up with a realtor [Provided by The Canadian Press]
The national average price for homes sold in September 2019 was about $515,500, up 5.3 per cent from the same month last year.
Excluding the Greater Vancouver and Greater Toronto regions, the average price was less than $397,000 and amounting to a year-over-year gain of 3.3 per cent.
This report by The Canadian Press was first published Oct. 15, 2019.
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