CREA: Canadian resale housing activity stabilizes in October

According to CREA statistics released today, there has been little change in homes sales activity nationally.  Month-to-month change in activity from September was-0.1%, pointing to a more stable national real estate market in October.  Sales activity did improve in half of the nationals major local housing markets.  This included both Toronto and Vancouver, however, sales in both those markets were still significantly below levels reported in the first half of the year.

Here are a few highlights from CREA’s monthly report:

  • Home sales little changed (-0.1%) from September to October.
  • Actual (not seasonally adjusted) activity down 0.8% from October 2011.
  • Number of newly listed homes down 3.8% from September to October.
  • Market remains firmly in balanced territory.
  • National average home price unchanged (+0.02%) on a year-over-year basis.
  • MLS® HPI up 3.6% in October – smallest gain since May 2011.

For more information on these highlights, please visit the CREA October report on the national housing markets by clicking here.