Canadian home sales little changed in December

Ottawa, ON, January 15, 2013 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity was little changed on a month-over-month basis in December 2012, holding it in line with levels reported in August when demand first geared down in the wake of tighter mortgage lending rules.

Highlights:
•       National home sales edged 0.5% lower from November to December.
•       Actual (not seasonally adjusted) activity down 17.4% from December 2011.
•       Number of newly listed homes dropped 1.3% from November to December.
•       Canadian housing market remains firmly in balanced territory.
•       National average sale price up 1.6% year-over-year in December.
•       MLS® HPI up 3.3% in December, the smallest gain since April 2011.

The number of home sales processed through the MLS® Systems of real estate Boards and Associations in Canada edged down 0.5 per cent on a month-over-month basis in December 2012. While sales activity was little changed nationally, it picked up in just over half of all local markets in December.

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