Canada January existing home sales -2.9% vs -0.1% expected

Author: Adam Button | Category: News

Canada January existing home sales data from CREA

CREA existing home sales
  • Prior was -0.9%
  • Activity up 22.7% compared to last December
  • Newly listed homes -1.8%
  • CREA says 'new supply close to its lowest level in a decade'
  • Prices up 4.75% y/y
January was a soft month for sales but that contrasts with strong housing starts numbers in the month -- likely due to good weather. December is a very slow month for home sales in general, so I would be skeptical of reading anything into the numbers.

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