Home Sales Remain Strong

National home sales continued running at historically strong levels in November, says the Canadian Real Estate Association (CREA). Home sales recorded over Canadian MLS Systems edged back by 1.6 per cent between October and November. Small declines in October and November notwithstanding, monthly activity is still running well above most of history. The decline from October to November reflected fewer transactions in about 60 per cent of all local markets, notably in large markets such as Toronto and Ottawa, ON; Vancouver, BC; and Montreal, QC. Actual (not seasonally adjusted) sales activity posted a 32.1 per cent year-over-year gain in November – the same as in October. It was a new record for that month by a margin of well over 11,000 transactions. For the fifth straight month, year-over-year sales activity was up in almost all Canadian housing markets compared to the same month in 2019. The number of newly-listed homes declined by 1.6 per cent in November, led by fewer new listings in the Greater Toronto Area (GTA) and Ottawa.