January 15, 2010
Canadian Real Estate Association Statistics for December 2009
Did you know that December 2009 was the strongest December in history for sales of existing homes in Canada? The Canadian Real Estate Association (CREA) reported that 27,744 homes traded hands in December, up 72% from a year ago. “Sales activity in 2009 came in like a lamb and went out like a lion,” said CREA president Dale Ripplinger. The national residential price was $337,410 in December, up 19% year over year. On an annual basis, prices are up 5% to a record $320,333. Unit sales are up 7.7%, representing the fourth best year on record. One reason for rising prices in 2009 was the lack of inventory. However, the trend seems to be reversing, with new listings in December up 4.8% from the prior year. Strong prices are driving sellers back into the market, says CREA.
