14 February 2014

• The number of hew homes listed rose by 0.2% from December.

• The Canadian real estate market is still balanced.

• The national average home price was up by 9.5% on a year-over-year basis.

The monthly sales fell in more than 60% of all local markets last month. The largest declines were reported in Greater Toronto, London and St. Thomas, Greater Vancouver, Windsor-Essex, and some other Southern Ontario markets.

“Probably, certain buyers decided to wait for an extremely cold and snowy January to end before starting the home hunt, especially, in Southern Ontario,” – noted CREA President Laura Leyser. “It’s a great example of how a local market situation can affect the national sales activity. If you want to know the market trends in your local area, please, talk to your local realtor.”

Not seasonally adjusted national average price for houses sold last month was $388,553 – it’s 9.5% higher than in January 2013.