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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

B.C. Green Party leader Sonia Furstenau outlines her party's climate action platform at Nanaimo's Vancouver Island Conference Centre earlier this month. (News Bulletin file photo)
Green leader Furstenau declared victor in her home riding on Vancouver Island

Cowichan Valley voters elect freshly minted party leader for her second term

John Horgan has been re-elected the MLA for Langford-Juan de Fuca. (File-Black Press)
Horgan trounces challengers to be re-elected in his Vancouver Island riding

MLA has represented constituency of Langford-Juan de Fuca and its predecessors since 2005

John Morrow photo
Barn catches fire near Abbotsford airport

Fire closes Mt. Lehman Road between Marshall Road and Abbotsford International Airport

file
One dead after fiery crash near Agassiz

Agassiz RCMP report a 56-year-old man died Friday night

The possibility of the Canadian Premier League expanding to the Fraser Valley has been floated online. (Facebook photo)
Canadian Premier League possibly eyeing Fraser Valley expansion

Soccer league looking to add ninth team to the mix, B.C. markets potentially rumoured

B.C. provincial health officer Dr. Bonnie Henry gives a daily briefing on COVID-19 cases at an almost empty B.C. Legislature press theatre in Victoria, B.C., on March 25, 2020. (Don Craig/B.C. government)
B.C. sees 223 new COVID-19 cases, now 2,009 active

Two new care home outbreaks in Surrey, Burnaby

Canada’s Chief Public Health Officer Theresa Tam responds to a question during a news conference Friday October 23, 2020 in Ottawa. Canada’s top physician says she fears the number of COVID-19 hospitalizations and deaths may increase in the coming weeks as the second wave continues to drive the death toll toward 10,000. THE CANADIAN PRESS/Adrian Wyld
Canada’s top doctor warns severe illness likely to rise, trailing spike in COVID-19 cases

Average daily deaths from virus reached 23 over the past seven days, up from six deaths six weeks ago

BC Hydro map showing where power has been knocked out is dotted with over a dozen outages. (BC Hydro map screenshot)
Thousands without power in Lower Mainland on election day

One outage in Langley and Surrey is affecting over 4,000 customers

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

100 Mile Conservation officer Joel Kline gingerly holds an injured but very much alive bald eagle after extracting him from a motorist’s minivan. (Photo submitted)
B.C. driver thought he retrieved a dead bald eagle – until it came to life in his backseat

The driver believed the bird to be dead and not unconscious as it turned out to be

Chastity Davis-Alphonse took the time to vote on Oct. 21. B.C’s general Election Day is Saturday, Oct. 24. (Chastity Davis-Alphonse Facebook photo)
B.C. reconciliation advocate encourages Indigenous women to vote in provincial election

Through the power of voice and education Chastity Davis-Alphonse is hopeful for change

White Rock RCMP Staff Sgt. Kale Pauls has released a report on mental health and policing in the city. (File photos)
White Rock’s top cop wants to bill local health authority for lengthy mental-health calls

‘Suggestion’ included in nine-page review calling for ‘robust’ support for healthcare-led response

Most Read