A sold sign is shown in front of west-end Toronto homes Sunday, April 9, 2017. THE CANADIAN PRESS/Graeme Roy

A sold sign is shown in front of west-end Toronto homes Sunday, April 9, 2017. THE CANADIAN PRESS/Graeme Roy

Home sales post second-best January, average price hits new record: CREA

Newly listed homes fell 11% month-over-month

OTTAWA — The Canadian Real Estate Association says home sales in January fell compared with a year earlier, but still posted their second-best showing for the month as the average price climbed to a new record.

The association says actual sales in January totalled 33,166, down 10.7 per cent from 37,137 in January 2021.

On a seasonally adjusted basis, home sales in January were up 1.0 per cent compared with December.

The number of newly listed homes fell 11 per cent month-over-month in January.

The national average home price was a record $748,450 in January, up 21 per cent from a year earlier.

CREA says excluding Greater Vancouver and the Greater Toronto, two of Canada’s most active and expensive housing markets, cuts almost $160,000 from the national average price.

This report by The Canadian Press was first published Feb. 15, 2022.

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