Canadian home sales begin 2023 at 14-year low
Statistics released by the Canadian Real Estate Association (CREA) show national home sales were down on a monthover-month basis in January 2023.
- National home sales declined 3% month-over-month in January.
- Actual (not seasonally adjusted) monthly activity came in 37.1% below January 2022.
- The number of newly listed properties rose 3.3% month-over-month.
- The MLS® Home Price Index (HPI) declined by 1.9% month-over-month and was down 12.6% year-over-year.
- The actual (not seasonally adjusted) national average sale price posted an 18.3% decline year-over-year in January.