(Ottawa) Residential sales jumped 22% in January across the country compared to the same month last year, representing the largest year-over-year increase since May 2021, according to the Canadian Housing Association. real estate (ACI).
In a press release published Wednesday, the association specifies, however, that this statistic more reflects the weakness of the market in January 2023, which was “the worst start to the year in the last two decades”.
On a seasonally adjusted basis, CREA reports that residential sales increased 3.7% in January compared to December 2023.
According to ACI Senior Economist Shaun Cathcart, trends point to a market that is starting to recover, but still needs to overcome the weaknesses of the past two years.
The number of newly listed properties increased by 1.5% month over month.
The actual average price of properties sold in the country in January was $659,395, an increase of 7.6% compared to January 2023.