Newspaper article The Canadian Press

Home Sales Up Eight per Cent Last Month; Average Price Soars 17 per Cent: CREA

Newspaper article The Canadian Press

Home Sales Up Eight per Cent Last Month; Average Price Soars 17 per Cent: CREA

Article excerpt

Home sales rose eight per cent last month

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OTTAWA - The Canadian Real Estate Association says sales of existing homes rose by eight per cent last month compared to a year ago, while the national average home price soared 17 per cent.

CREA says the national average home price was $470,297 in January, fuelled largely by price gains in greater Vancouver and greater Toronto.

However, excluding the piping hot markets of Ontario and British Columbia, the average sale price actually edged lower by 0.3 per cent from a year ago to $286,911.

On a month-to-month, seasonally adjusted basis, CREA says national home sales rose 0.5 per cent in January, compared to December of last year.

Meanwhile, the number of new listings on the Multiple Listing Service declined by 4. …

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