Home sales activity for December 2009 reached highest level ever…72% higher than December 2008 activity…National residential average price was $337,410 in December, up 19 percent year-over-year…On annual basis, average price climbed five percent to a record $320,333…

(Source: CREA via CNW Group)

Existing home sales activity reached the highest level ever for the month of December, according to statistics released by The Canadian Real Estate Association. Strong demand in the second half of 2009, especially in the fourth quarter, pushed annual sales above 2008 levels.

Residential sales activity via the Multiple Listing Service(R) (MLS(R)) of Canadian real estate boards numbered 27,744 units in December 2009. This stands 72 per cent above activity in December 2008, when activity dropped to the lowest level in a decade. New records for the month of December were reported in Ontario, Quebec, Saskatchewan, New Brunswick, and Newfoundland & Labrador.

Seasonally adjusted national home sales totalled 46,805 units in December, capping the strongest fourth quarter period ever. A total of 137,957 homes traded hands on a seasonally adjusted basis in the fourth quarter of 2009. This is up 2.6 per cent from the previous record set in the first quarter of 2007. New quarterly records were set in British Columbia, Ontario, and Quebec.

National sales activity began 2009 on a weak footing. Despite year-over-year increases in the second and third quarters of the year, year-to-date activity was still trailing 2008 levels at the end of September 2009. A 59 per cent year-over-year gain in the fourth quarter of 2009 pushed sales activity above annual levels for 2008.

Read the full release, “2009 resale housing market ends on a high note” at CNW Group (Jan 15, 2010).

Developments featured in this article

More Like This

Facebook Chatter