Real estate for sale sign. (The Canadian Press files)

CREA reports home sales up 11.5% compared with a year earlier

Home prices declined slightly in Greater Vancouver and in Prairie cities

The Canadian Real Estate Association says home sales rose 11.5 per cent in January compared with a year earlier to reach the highest sales figures for the month in 12 years, even as new listings remain constrained.

The association says seasonally-adjusted sales fell 2.9 per cent in January from a month earlier, dragged down by a roughly 18 per cent drop in sales in the Lower Mainland of British Columbia.

The actual average price for homes sold in January was about $504,350, up 11.2 per cent from the same month a year earlier for the largest increase since mid-2016.

Removing the Greater Vancouver Area and Greater Toronto Area from the picture, the national average price falls to around $395,000.

ALSO READ: CREA reports home sales in September up 15.5% from year ago

Home prices declined slightly in Greater Vancouver and in Prairie cities, while Montreal and cities in Ontario saw strong gains.

Prices rose as new listings remain near decade lows, though they edged up 0.2 per cent in January from December.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Real estate

Just Posted

101-year-old man targets 101 block fundraising walk for food bank

A centenarian in Invermere has embarked on a new adventure to raise money for the food bank.

Entrepreneur implements safety measures to cope with long weekend

Ryan Haynes prepares for both the pandemic and for the Victoria Day long weekend in May.

Wings Over the Rockies encourages nature viewing during pandemic

Three local photographers and Wings supporters offer nature viewing tips.

Hospital chief of staff provides guidance on COVID-19 and the Columbia Valley as we open up

Chief of staff says: “COVID-19 … is still here and is not going away any time soon.”

Our community news matters

Guest editorial by Arnold Malone

B.C. legislature coming back June 22 as COVID-19 emergency hits record

Pandemic restrictions now longer than 2017 wildfire emergency

B.C. businesses ‘can’t shoulder burden’ of COVID-19 sick pay

Trudeau’s plan should be tied to federal emergency aid

Another Asian giant ‘murder hornet’ found in Lower Mainland

This is the farthest east the invasive species has been found so far

B.C. girl left temporarily paralyzed by tick bite sparks warning from family

Mom says parents need to check their kids when they go camping

PHOTOS: Loved ones reunite at an oasis on closed U.S.-Canada border in Surrey

Officials closed the park in mid-March over coronavirus concerns

Introducing the West Coast Traveller: A voyage of the mind

Top armchair travel content for Alaska, Yukon, BC, Alberta, Washington, Oregon and California!

Feds delay national action plan for missing and murdered Indigenous women

Meanwhile, the pandemic has exacerbated the violence facing many Indigenous women and girls

B.C.’s essential grocery, hardware store employees should get pandemic pay: retail group

Only B.C.’s social, health and corrections workers are eligible for top-ups

COLUMN: Canada needs to remember rural communities as thoughts turn to pandemic recovery

Small towns often rely on tourism, which has been decimated by COVID-19

Most Read