Canadian home sales rose 0.6% in November from the previous month, the ninth straight monthly gain
The Canadian Real Estate Association said on Monday actual sales, not seasonally adjusted, rose 11.3% from a year earlier, while the group's Home Price Index was up 2.6% from November last year.
Activity stands 20% above the six-year low reached in February 2019 but 6% to 7% below heights recorded in 2016 and 2017.
CREA went on to say transactions surpassed year-ago levels in almost all of Canada’s largest urban markets.
The number of newly listed homes slid a further 2.7%, putting them among the lowest levels posted in the past decade. November’s decline was driven primarily by fewer new listings in the GTA.
The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.8%. Marking its sixth consecutive monthly gain, it now stands almost 4% above its low point reached last May.
