Mortgage News
Home sales fall in January but up from last year
The number of home sales across Canada fell 3.3 per cent between December and January but was up slightly over a year ago, along with prices, which rose 9.5 per cent year-on-year, the Canadian Real Estate Association said Friday.
Published
Home sales in Canada declined slightly in January of this year, according to a recent report from the Canadian Real Estate Association (CREA). Unusually cold winter temperatures are suspected to be the main reason some Canadians are choosing to postpone their home searches.
Harsh winter temperatures and inclement weather also slowed new home construction, according to Gregory Klump, CREA's chief economist.