CREA : National homes sales up 12.9 per cent in October as compare with last year!

25 Nov 19

CREA : National homes sales up 12.9 per cent in October as compare with last year!

The question about the Real Estate market health and status is always a part of conversation whenever I meet my clients, have a quick chat with them on the phone or even in the social setting. As real estate is one of the largest asset investment someone does in their lifetime, they are always interested in knowing about the industry to keep track of their investment.

As a Real Estate Professional, I tend to provide this information to my clients on a timely basis. This is the recent article published by the Canadian Real Estate Association (CREA) regarding the real estate industry in Canada in the month of October 2019.

As per CREA, the number of homes sales was up 12.9% nationally in October as compared to the same month last year. 

It says sales activity last month was almost the same as for September, but almost 20% from a 6 year low reached in February. Home sales are still about 7% below the heights reached in 2016 and 2017.

CREA says sales activity was mixed across the country as growing sales in Greater Vancouver, the B.C. Fraser Valley and Ottawa, was offset by a monthly decline in the GTA and Hamilton - Burlington.

Greater Vancouver's composite index price was down 6.4% from a year ago to $994,900, while in the GTA, the index price was up 5.6% to $814,400. Ottawa recorded the highest price gains of major cities with the 10.25% climb to $436,300.

Nationally, the composite index price was up 1.77% to $633,600 despite declines in the parts of B.C as well as in major cities in Alberta and Saskatchewan.

The number of new residential listings were down by 5.8% in October as compared with the last year and 1.8% down from September.

Based on this article, the question arises if this is the right time to buy or sell the home? If you are looking to have complete info about the market in your neighbourhood, I am more than happy to sit down with you and have that discussion.

Let's connect over coffee and have a detailed discussion, I have all the info you need on the real estate market.

Call me at 204.293.8899 or email me at [email protected]

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