According to the Canadian Real Estate Association (CREA), monthly home sales were down 4 per cent in January 2019 compared to the same month of last year and turned in the weakest January since 2015.
“Homebuyers are still adapting to tightened mortgage regulations brought in last year”, said CREA President Barb Sukkau. “However, their impact on homebuyers varies by location, housing type and price segment”.
British Columbia (-32.7 per cent), Alberta (-15.7 per cent) registered a significant drop in sales compared to January of last year, while Québec (+15.5 per cent) and Ontario (+4.9 per cent) showed an increase.
The average price for all residential properties sold in Canada in January 2019 was just under $455,000, down 5.5 per cent from the same month last year. Excluding the Greater Vancouver and Greater Toronto markets, the two most active and expensive markets in Canada, the national average price drops to just over $360,000.
To learn more : CREA’s official press release