Canada January existing home sales -2.9% vs -0.1% expected
Canada January existing home sales data from CREA
- 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.