Canadian real estate sales are still dropping. Canadian Real Estate Association (CREA) numbers show home sales falling in November. Last month, only three major real estate markets saw increase on a year over year basis. The rest saw declines, especially in major markets like Vancouver – which led the way lower.
Canadian Real Estate Sales Drop Over 12%
Canadian real estate sales are still falling, and fast. CREA reported 33,318 sales in November, down 15.25% from the month before. Sales across the country are now down 12.54%, when compared to the same month last year. The decline is the eleventh consecutive month for declines, and is likely to continue.
Canadian Real Estate Sales
The unadjusted sales for all home types, as reported through the Canadian MLS.
Month
Sales
Jan 2015
23,289
Feb 2015
32,898
Mar 2015
45,527
Apr 2015
52,982
May 2015
56,545
Jun 2015
57,380
Jul 2015
50,036
Aug 2015
43,103
Sep 2015
42,615
Oct 2015
41,981
Nov 2015
36,846
Dec 2015
27,488
Jan 2016
25,292
Feb 2016
38,856
Mar 2016
50,773
Apr 2016
58,106
May 2016
61,412
Jun 2016
60,132
Jul 2016
48,577
Aug 2016
47,419
Sep 2016
44,332
Oct 2016
42,537
Nov 2016
37,178
Dec 2016
26,158
Jan 2017
25,534
Feb 2017
37,754
Mar 2017
54,290
Apr 2017
53,796
May 2017
60,594
Jun 2017
53,344
Jul 2017
42,599
Aug 2017
42,769
Sep 2017
39,446
Oct 2017
40,691
Nov 2017
38,095
Dec 2017
27,206
Jan 2018
24,931
Feb 2018
31,356
Mar 2018
41,983
Apr 2018
46,344
May 2018
50,640
Jun 2018
47,413
Jul 2018
41,872
Aug 2018
41,151
Sep 2018
35,939
Oct 2018
39,313
Nov 2018
33,318
Source: CREA, Better Dwelling.
The growth of Canadian real estate sales have been trending lower for years. Last month was the slowest November since 2013, and the largest annual decline since 2008. Sales have continued to trend lower from peak growth seen in February 2016. Maybe Santa will give everyone a condo for Christmas.
Canadian Real Estate Sales Change
The annual percent chage of unadjusted sales for all home types, as reported through the Canadian MLS.
Month
Unadjusted
Jan 2008
-8.57
Feb 2008
-8.78
Mar 2008
-18.94
Apr 2008
-7.04
May 2008
-17.41
Jun 2008
-15.35
Jul 2008
-12.25
Aug 2008
-20.83
Sep 2008
-3.49
Oct 2008
-27.27
Nov 2008
-42.32
Dec 2008
-32.86
Jan 2009
-40.51
Feb 2009
-31.47
Mar 2009
-13.97
Apr 2009
-11.58
May 2009
-0.86
Jun 2009
17.67
Jul 2009
18.69
Aug 2009
18.69
Sep 2009
17.31
Oct 2009
41.73
Nov 2009
72.75
Dec 2009
72.65
Jan 2010
56.26
Feb 2010
44.22
Mar 2010
40.3
Apr 2010
20.4
May 2010
-4.63
Jun 2010
-19.88
Jul 2010
-29.98
Aug 2010
-19.85
Sep 2010
-19.97
Oct 2010
-21.62
Nov 2010
-9.66
Dec 2010
-14.63
Jan 2011
-6.21
Feb 2011
-5.53
Mar 2011
-6.41
Apr 2011
-14.69
May 2011
2.72
Jun 2011
11.2
Jul 2011
12.66
Aug 2011
16.12
Sep 2011
11.73
Oct 2011
9.03
Nov 2011
5.52
Dec 2011
4.76
Jan 2012
4
Feb 2012
8.66
Mar 2012
1.34
Apr 2012
10.99
May 2012
8.72
Jun 2012
-4.71
Jul 2012
2.43
Aug 2012
-8.87
Sep 2012
-15.13
Oct 2012
-0.86
Nov 2012
-12.08
Dec 2012
-17.59
Jan 2013
-6.09
Feb 2013
-16.81
Mar 2013
-15.11
Apr 2013
-3.36
May 2013
-2.61
Jun 2013
-0.55
Jul 2013
9.59
Aug 2013
11.35
Sep 2013
17.74
Oct 2013
8.09
Nov 2013
5.83
Dec 2013
12.27
Jan 2014
0.64
Feb 2014
3.2
Mar 2014
4.88
Apr 2014
0.35
May 2014
5.46
Jun 2014
11.53
Jul 2014
8.1
Aug 2014
2.32
Sep 2014
11.13
Oct 2014
7.57
Nov 2014
3.12
Dec 2014
8.61
Jan 2015
-1.97
Feb 2015
2.67
Mar 2015
9.14
Apr 2015
9.9
May 2015
3.36
Jun 2015
10.96
Jul 2015
3.56
Aug 2015
3.93
Sep 2015
0.31
Oct 2015
0.33
Nov 2015
10.38
Dec 2015
10.26
Jan 2016
8.6
Feb 2016
18.11
Mar 2016
11.52
Apr 2016
9.67
May 2016
8.61
Jun 2016
4.8
Jul 2016
-2.92
Aug 2016
10.01
Sep 2016
4.03
Oct 2016
1.32
Nov 2016
0.9
Dec 2016
-4.84
Jan 2017
0.96
Feb 2017
-2.84
Mar 2017
6.93
Apr 2017
-7.42
May 2017
-1.33
Jun 2017
-11.29
Jul 2017
-12.31
Aug 2017
-9.81
Sep 2017
-11.02
Oct 2017
-4.34
Nov 2017
2.47
Dec 2017
4.01
Jan 2018
-2.36
Feb 2018
-16.95
Mar 2018
-22.67
Apr 2018
-13.85
May 2018
-16.43
Jun 2018
-11.12
Jul 2018
-1.71
Aug 2018
-3.78
Sep 2018
-8.89
Oct 2018
-3.38
Nov 2018
-12.54
Source: CREA, Better Dwelling.
Quebec, London, And Montreal Real Estate See Biggest Gains
The markets with the largest gains for November were Quebec City, London, and Montreal. Quebec City reported 611 sales in November, up 18.2% – the largest jump in the country. London followed with 737 sales, up 6.3% from last year. Montreal came in third with 3,630 sales, up 6.1% from last year. By the way, these weren’t just the three with the biggest gains. They are the only major markets with a gain to report.
Canadian Real Estate Sales By Market
Canadian real estate sales in markets with more than 500 sales in 2017.
The latest news has been focused on rising interest rates, surging inflation, and economic uncertainty with suggestions that the Canadian economy could be tripped into recession.With all this
There’s no doubt about the fact that the housing market is slowing from the frenzy we saw over the past two years. But what does that mean for you if you’re thinking of selling
The BC Home Owner Protection Act requires that all newly built homes (including strata properties) or buildings that have been substantially reconstructed be covered by third-party
A total of 510 properties sold in the Victoria Real Estate Board region this July, 38.9 per cent fewer than the 835 properties sold in July 2021 and a 16.7 per cent decrease from June 2022. Sales of