Real estate for sale sign. (The Canadian Press files)

CREA reports home sales up 11.5% compared with a year earlier

Home prices declined slightly in Greater Vancouver and in Prairie cities

The Canadian Real Estate Association says home sales rose 11.5 per cent in January compared with a year earlier to reach the highest sales figures for the month in 12 years, even as new listings remain constrained.

The association says seasonally-adjusted sales fell 2.9 per cent in January from a month earlier, dragged down by a roughly 18 per cent drop in sales in the Lower Mainland of British Columbia.

The actual average price for homes sold in January was about $504,350, up 11.2 per cent from the same month a year earlier for the largest increase since mid-2016.

Removing the Greater Vancouver Area and Greater Toronto Area from the picture, the national average price falls to around $395,000.

ALSO READ: CREA reports home sales in September up 15.5% from year ago

Home prices declined slightly in Greater Vancouver and in Prairie cities, while Montreal and cities in Ontario saw strong gains.

Prices rose as new listings remain near decade lows, though they edged up 0.2 per cent in January from December.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Real estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

UPDATE: 6.5-magnitude earthquake in Idaho shakes B.C. Interior

An earthquake was reportedly felt just before 5 p.m. throughout the Okanagan

COVID-19: Revelstoke 3D printing face shields for local hospital

‘The response has been completely overwhelming’

Revelstoke Search and Rescue notice significant drop in calls

SAR across the province dropped roughly 90 per cent last week

COVID-19: Revelstoke Credit Union defers mortgages, loans

RCU said other options include approving lines of credit, increasing credit and offering other loans

Glimpses of Revelstoke’s past for March 26

Spicy school meeting, theft at CPR and a proposal to host the 1968 Winter Olympics

First Nations, remote communities need special attention in pandemic, Freeland says

Health-care workers, seniors, Indigenous Peoples some of people most at risk, health officials say

Gleaners give surplus produce, North Okanagan gratefully fed

Trailer full of goods scooped by community amid COVID-19

Call before you dig into spring projects during isolation: BC 1 Call

BC 1 Call gives free checks for utilities in the area of a desired outdoor project

B.C.’s intersection speed cameras putting more tickets in the mail

One Nanaimo location delayed after speed limit reduced

Friends of Dorothy’s drag queens deliver food in support of Kelowna’s first responders

The lounge is donating $5 from every order to first responders

Coquihalla closed in both directions, medevac to land

DriveBC says drivers should expect delays of up to one hour

B.C. records five new COVID-19 deaths, ‘zero chance’ life will return to normal in April

Province continue to have a recovery rate of about 50 per cent

Salmon Arm opens respiratory clinic in response to COVID-19

Clinic will not be a walk-in centre, residents must call family doctor or nurse practioner first

LETTER: Flights from infected countries should be banned

There is no excuse to allow those from infected countries to keep coming to B.C.

Most Read