![\"CREA](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2024\/02\/AdobeStock_665426276.jpg\")
<\/a>In December 2023 and January 2024, home sales activity via Canadian MLS Systems increased by 3.7 per cent, continuing the 7.9 per cent month-over-month growth from November. Despite the fact activity has already returned to the relatively stronger months of 2023 over the spring and summer, 2024 has begun roughly 9 per cent below the 10-year average.<\/p>\n\n\n\n
\u201cSales are up, market conditions have tightened quite a bit, and there has been anecdotal evidence of renewed competition among buyers; however, in areas where sales have shot up most over the last two months, prices are still trending lower. Taken together, these trends suggest a market starting to turn a corner but still working through the weakness of the last two years,\u201d said Shaun Cathcart, CREA\u2019s senior economist.<\/p>\n\n\n\n
National gains were once again spearheaded by the Greater Toronto Area <\/a>(GTA), along with Hamilton<\/a>–Burlington<\/a>, Montreal<\/a>, Greater Vancouver<\/a>, the Fraser Valley, Calgary<\/a>, and most markets in Ontario\u2019s Greater Golden Horseshoe and cottage country.<\/p>\n\n\n\n The actual number of transactions (not seasonally adjusted) exceeded January 2023 figures by 22 per cent, marking the most significant year-over-year gain since May 2021. However, considering that current activity levels still fall below the average, the double-digit increase is attributed mainly to the base effect compared to January 2023, which experienced the worst start to almost any year in the past two decades.<\/p>\n\n\n\n The number of newly listed homes in January saw a 1.5 per cent increase on a month-over-month basis, although it remains close to the lowest since last June.<\/p>\n\n\n\n \u201cThe market has been showing some early signs of life over the last couple of months, probably no surprise given how much pent-up demand is out there,\u201d said Larry Cerqua, CREA chairperson. \u201cThere\u2019s a consensus that the market will probably look quite different this year compared to 2022 and 2023.\u201d<\/p>\n According to the Canadian Real Estate Association’s (CREA) report for January 2024, home sales are showing signs of recovery. <\/p>\n","protected":false},"author":49,"featured_media":228297,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","apple_news_api_created_at":"2024-02-16T14:18:49Z","apple_news_api_id":"21fb100d-fefe-4644-8f31-e5ae0524f70c","apple_news_api_modified_at":"2024-02-16T14:18:49Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/AIfsQDf7-RkSPMeWuBST3DA","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[11108],"tags":[11132,11316,11412,11198],"coauthors":[10332],"apple_news_notices":[],"yoast_head":"\n