Etobicoke Real Estate

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Market Update: Canadian Home Sales Edge Higher in January

Ottawa, ON – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity edged up on a month-over-month basis in January 2013. National sales activity has held fairly steady after gearing down last August in the wake of tightened mortgage lending rules.

Highlights:
National home sales rose 1.3% from December to January.

Actual (not seasonally adjusted) activity came in 5.2% under levels in January 2012.

The number of newly listed homes rose 1.6% from December to January.
The Canadian housing market remains firmly in balanced territory.

National average sale price was up 2% year-over-year in January.

The MLS® HPI rose 3.1% in January, the smallest gain since April 2011.

The number of home sales processed through the MLS® Systems of real estate Boards and Associations and other cooperative listing systems in Canada edged up 1.3 per cent on a month-over-month basis in January 2013. This marks the fifth month in a row that national sales activity has shown little change from levels in the previous month.

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