Close X
Thursday, December 12, 2024
ADVT 
National

Sales Of Homes In December Up 10 Per Cent From Same Month Last Year

The Canadian Press, 15 Jan, 2016 01:27 PM
  • Sales Of Homes In December Up 10 Per Cent From Same Month Last Year
OTTAWA — Sales of existing homes rose 10 per cent in December compared to the same month the previous year, the Canadian Real Estate Association said Friday.
 
The national average price for a home sold last month was $454,342, up 12.0 per cent from a year ago, boosted by gains in the Vancouver and Toronto regions.
 
Excluding Greater Vancouver and Greater Toronto, the average price was $336,994, up 5.4 per cent from a year ago.
 
Sal Guatieri, senior economist at BMO Capital Markets, says that with the possibility of a further interest rate cut from the Bank of Canada on the horizon, the red-hot real estate markets in Vancouver and Toronto are unlikely to see a significant pullback.
 
However, price gains in those markets could be "less frothy," Guatieri said in a note to clients.
 
"The pain in the oil-producing regions will persist, if not intensify, until oil prices show a pulse," he added.
 
TD economist Diana Petramala said home sales could spike in January as buyers look to pre-empt changes from Ottawa requiring higher down payments for homes worth between $500,000 and $1 million, which will take effect in mid-February.
 
Compared to the previous month, homes sales slipped in December by 0.6 per cent, the Canadian Real Estate Association said. Sales were down in Calgary and Edmonton as well as York Region and Hamilton-Burlington in Ontario.

MORE National ARTICLES

Hydro One Can't Get Wi-Fi Signal From 36,000 Smart Meters; Will Read Manually

Ontario's opposition parties say it's no surprise that Hydro One has to manually read thousands of electricity smart meters because the devices can't get a wireless signal.

Hydro One Can't Get Wi-Fi Signal From 36,000 Smart Meters; Will Read Manually

B.C. Supreme Court Hands Another Setback To Northern Gateway Pipeline

An alliance of First Nations is celebrating a British Columbia Supreme Court ruling that it says could set back the Northern Gateway pipeline by years and throw a wrench into another high-profile project review.

B.C. Supreme Court Hands Another Setback To Northern Gateway Pipeline

Westjet Vows To Compete With New Rival Newleaf On Fares, Not Added Fees

MONTREAL — WestJet Airlines says it will use low fares to compete with new discount rival NewLeaf but its "ancillary revenue" will come only from extra fees that it thinks will "add value" for its guests.

Westjet Vows To Compete With New Rival Newleaf On Fares, Not Added Fees

Alberta Freezes Salaries Of Managers, Non-Union Public Service Workers

Alberta Freezes Salaries Of Managers, Non-Union Public Service Workers
Finance Minister Joe Ceci said Wednesday the move affects 7,000 civil servants and will save $57 million in total.

Alberta Freezes Salaries Of Managers, Non-Union Public Service Workers

Justin Trudeau Advised By Officials That Hamas-israel Truce Would Be In Their Interests

Justin Trudeau Advised By Officials That Hamas-israel Truce Would Be In Their Interests
Federal officials have told Prime Minister Justin Trudeau that a truce between Israel and the militant group Hamas would be in both of their interests.

Justin Trudeau Advised By Officials That Hamas-israel Truce Would Be In Their Interests

Convicted Via Rail Plotter Chiheb Esseghaier To Appeal Terror Conviction At Ontario's Top Court

Convicted Via Rail Plotter Chiheb Esseghaier To Appeal Terror Conviction At Ontario's Top Court
Chiheb Esseghaier, a deeply religious Muslim, argues he ought to have been judged by the rules of the Qur'an.

Convicted Via Rail Plotter Chiheb Esseghaier To Appeal Terror Conviction At Ontario's Top Court