DECEMBER 2023 CREA Statistics and Quarterly Forecast
December 2023 CREA Statistics
'Click Here' To Access December 2023 National Statistics
Canadian Home Sales See Unexpected Surge to Close Out 2023Statistics released by the Canadian Real Estate Association (CREA) show national home sales were up noticeably on a month-over-month basis in December 2023.Highlights:
- National home sales jumped 8.7% month-over-month in December.
- Actual (not seasonally adjusted) monthly activity came in 3.7% above December 2022.
- The number of newly listed properties dropped 5.1% month-over-month.
- The MLS® Home Price Index (HPI) fell by 0.8% month-over-month but was still up 0.7% year-over-year.
- The actual (not seasonally adjusted) national average sale price posted a 5.1% year-over-year increase in December.
Home sales activity recorded over Canadian MLS® Systems rose 8.7% between November and December 2023, putting it on par with some of last year’s relatively stronger months recorded over the spring and summer. Access the December 2023 stats PDF.CREA Forecasts Rebound in Residential Property Sales in 2024The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity and average home prices via Multiple Listing Service® (MLS®) Systems of Canadian real estate boards and associations for 2024 and has extended the outlook to include 2025. Canadian housing markets have remained quiet since the Bank of Canada’s interest rate hikes last summer. Interest rates have been the major factor affecting markets over the last few years, and this is expected to continue in 2024 and 2025.Access the January 2024 forecast PDF.
Powered By GrowthZone