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Small Drop in Sales and Significant Increase in Average Price in Canada in June 2013 -

Small Drop in Sales and Significant Increase in Average Price in Canada in June 2013 -

Note: The data presented below are not seasonally adjusted so that they can be compared with data published by the QFREB. The Canadian Real Estate Association (CREA) publishes seasonally adjusted data in its monthly news release. As a result, there are certain differences between this document and CREA’s publication.

Small Drop in Sales and Significant Increase in Average Price in Canada in June 2013

According to The Canadian Real Estate Association (CREA), there were 46,258 residential MLS® sales transactions in Canada in June 2013, a slight 0.6 per cent decrease compared to the 46,557 sales concluded in June 2012. This was the eleventh consecutive monthly drop in sales. Chart 1 shows the changes in MLS® sales in Canada.

Geographically, a divide was observed between the east and west of the country in June 2013: only the provinces of Alberta and British Columbia registered an increase in sales compared to June of last year, at 6.4 and 5.6 per cent, respectively. In contrast, the largest decreases in sales were in the provinces of Newfoundland (-28.0 per cent), Nova Scotia (-18.8 per cent), Québec (-6.2 per cent) and New Brunswick (-4.2 per cent).

 

Source: The Canadian Real Estate Association

 

According to CREA, the average price for all residential MLS® properties sold in Canada in June reached $386,585, a 4.8 per cent increase compared to June 2012. This was the largest increase in average price since October 2011. Chart 2 shows changes in MLS® average price in Canada.

The largest increases in average price were in the provinces of Newfoundland and Saskatchewan, where prices rose by 9.3 and 9.1 per cent, respectively, compared to June 2012. The average price in British Columbia, where property prices are highest, increased by 6 per cent to reach $533,219. The only provinces to register a decrease in average price were New Brunswick and Prince Edward Island, at 1.6 and 13.5 per cent, respectively. In Québec, the average price remained relatively stable, growing by 0.3 per cent.

 

Source: The Canadian Real Estate Association

 

To read the official CREA release, click here.


Details About Canada’s Resale Market

Data on Canada’s resale market are published monthly (around the 15th day of each month) by The Canadian Real Estate Association (CREA).

The Resale Market in Canada and the Resale Market in Québec

The evolution of Canada’s resale market is a good point of comparison with real estate activity here in Québec. It is particularly interesting to compare resale market conditions in Canada’s large urban centres. Resale market activity throughout the rest of Canada may affect the housing market here in Québec due to its potential influence on consumer confidence. For example, difficulties in Western Canada’s real estate market may have a negative impact on Québec consumers, as they may worry about a potential deterioration of Québec’s real estate market.

- See more at: http://www.fciq.ca/Nouvelles_economiques/ReventeCAN_EN.html#sthash.mEgRguTH.dpuf