Home Real Estate Canadian real estate tops record year with months to spare: CREA

Canadian real estate tops record year with months to spare: CREA

2

Home prices have gone up the most in smaller cities and towns in Ontario. (REUTERS/Lars Hagberg)

As Canadians sat down for Thanksgiving dinner, real estate already notched the most sales in a year ever, with two months to spare.

The Canadian Real Estate Association (CREA) says 581,275 homes were sold from January to October 2021. The previous record was 552,423 sales for all of 2020.

Home prices are up 23.7 per cent nationally as measured by the MLS Home Price Index.

After a slight breather in the summer, housing activity is heating up again. Sales rose 8.6 per cent month-over-month in October, and prices were up 2.7 per cent.

While sales were down 11.5 per cent year-over-year, it was still the second-highest tally for the month of October.

“After a summer where it looked like housing markets might be calming down a bit, October’s numbers suggest we might be moving back towards what we saw this spring, with regard to current market demand and supply…

Click here for full article…sports.yahoo.com