6 December 2018

On a seasonally adjusted basis, home sales fell by 3.4% from October 2018.

The MLS Home Price Index (HPI) Composite Benchmark rose by 2.7% annually, with the average selling price showing a 3.5% year-over-year increase to $788,345.

The average selling price on a seasonal adjustment would go down by 0.8% from October.

“Home types with a lower price reported a stronger price growth during the previous few months. With the influence of OSFI’s mortgage stress test and higher borrowing costs, it’s quite understandable why condo apartment and semi-detached segments are showing a faster growth pace – the market conditions here remained tight over the past year,” – said Jason Mercer, TREB’s Director of Market Analysis.