Wednesday, February 17, 2010
The number of home sales decline 2.8 per cent in January compared with the close to record level in December, the Canadian Real Estate Association said Wednesday.
Ontario accounted for about half the national decline, but activity was also down in Alberta, British Columbia, and Manitoba. Conversely, home sales reached new heights in Quebec, the association said.
The average price of all homes sold through the body's online Multiple Listings Service in January 2010 was $328,537, up 19.6 % from one year ago. In January 2009, the average Canadian house price hit its lowest level in three years.
Inventory levels keep on being depressed, which is contributing to the price gains. Strong demand for resale houses continues to draw down supply. There were 170,199 homes listed for sale on MLS in Canada at the end of January 2010, a decline of 18 % from levels reported for the same month in 2009.
That put the inventory level at 6.6 months, well below the 12.8-month level it was at in Jan 2009.
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by World House Info @ 11:33 PM
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