Close X
Thursday, December 12, 2024
ADVT 
National

Canadian home sales slip lower in January, Canadian Real Estate Association says

Darpan News Desk The Canadian Press, 17 Feb, 2015 10:47 AM

    OTTAWA — Home sales slipped lower in January for the second month in a row, with a slowdown in Calgary and Edmonton responsible for much of the decline.

    The Canadian Real Estate Association says sales through its multiple listing service in January were down 2.0 per cent compared with a year ago.

    Compared with December, last month's sales were down 3.1 per cent.

    If Calgary and Alberta are removed from the national total, sales activity is up 1.9 per cent from a year ago, CREA says.

    However, Douglas Porter, chief economist at BMO Financial Group, says sales in the rest of the country were "not especially hot either," with 15 of the country's 26 largest urban areas posting flat or declining sales.

    "Canada's housing market is cooling notably, largely because of the sudden deep chill in the previously hottest cities," Porter said in a statement.

    "However, there is still plenty of regional variation churning below the surface. We suspect that with borrowing costs still plumbing the depths and many provincial economies holding up, any housing correction will be a specific regional affair."

    The national average price for a home sold in January was $401,143, up 3.1 per cent from a year ago.

    CREA says it was the smallest year-over-year increase since April 2013.

    Excluding Vancouver and Toronto, the average price was $312,280, down 0.3 per cent compared with a year ago.

    MORE National ARTICLES

    US Congress set to pass bill approving Keystone, but Obama has vowed to use veto

    US Congress set to pass bill approving Keystone, but Obama has vowed to use veto
    WASHINGTON — The United States Congress is set to send a bill approving the privately funded Canadian Keystone XL oil pipeline project to President Barack Obama, who has vowed to veto it.

    US Congress set to pass bill approving Keystone, but Obama has vowed to use veto

    Jewish Defence League to establish in Montreal; hopes to impact federal election

    Jewish Defence League to establish in Montreal; hopes to impact federal election
    MONTREAL — The Canadian chapter of the Jewish Defence League is expanding its operations into Montreal and its leader says he also hopes to influence voters in the upcoming federal election.

    Jewish Defence League to establish in Montreal; hopes to impact federal election

    Ontario father, 3-year-old daughter recovering after liver transplant surgeries

    Ontario father, 3-year-old daughter recovering after liver transplant surgeries
    TORONTO — An Ontario father and his three-year-old daughter were recovering in hospital on Wednesday after both underwent "successful" liver transplant surgeries.

    Ontario father, 3-year-old daughter recovering after liver transplant surgeries

    'Didn't want to hear it:' Missing rescue tech's mom says his loss hard to accept

    'Didn't want to hear it:' Missing rescue tech's mom says his loss hard to accept
    LAKE LOUISE, Alta. — The mother of a missing search-and-rescue technician buried in deep snow on a mountain in Alberta says he was a powerful physical presence but had a gentle soul.

    'Didn't want to hear it:' Missing rescue tech's mom says his loss hard to accept

    Rate of opiate withdrawal in newborns up dramatically over 20 years, study finds

    Rate of opiate withdrawal in newborns up dramatically over 20 years, study finds
    TORONTO — The number of babies born with symptoms of opioid withdrawal because of their mother's use of the medications has jumped 15-fold in Ontario over the last two decades, reflecting increased prescribing of the potent and addictive pain killers, researchers say.

    Rate of opiate withdrawal in newborns up dramatically over 20 years, study finds

    Ontario judge approves Target Canada's compromise deal with its landlords

    Ontario judge approves Target Canada's compromise deal with its landlords
    TORONTO — An Ontario judge has given the green light to a compromise between Target Canada and its landlords over properties the retailer will soon leave vacant.

    Ontario judge approves Target Canada's compromise deal with its landlords