Canadian November existing home sales data

  • Prior was -1.7%

  • Sales down 12.6% y/y

  • Non-seasonally adjusted home prices -2.91% y/y at $488K

" The decline in homeownership affordability caused by this year's new mortgage stress-test remains very much in evidence. Despite supportive economic and demographic fundamentals, national home sales have begun trending lower," said Gregory Klump, CREA Chief Economist in the release.

You can see the quick drop-off in January when the new rules came into effect.