CREA reports January home sales jump 22% from year ago in largest gain since 2021

By The Canadian Press on February 14, 2024.

OTTAWA – The Canadian Real Estate Association says January home sales jumped 22 per cent compared with a year ago, the largest year-over-year gain since May 2021.

The association says the increase reflected weakness last year which saw the worst start to almost any year in the past two decades.

On a seasonally adjusted basis, CREA says home sales in January were up 3.7 per cent when compared with December 2023.

CREA senior economist Shaun Cathcart says trends suggest a market that is starting to turn a corner but is still working through the weakness of the last two years.

The number of newly listed properties was up 1.5 per cent month-over-month.

The actual national average home price was $659,395 in January, up 7.6 per cent from January 2023.

This report by The Canadian Press was first published Feb. 14, 2024.

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