According to the Canadian Real Estate Association (CREA) not much is happening in Canada. They report that national home sales are ‘little changed’ in December 2012. But that compares to November 2012; the picture is rather different if you compare with December 2011.
Some 80 per cent of local markets saw year-over-year declines in sales activity over the year, by an average of 17.4 per cent, although prices rose by 1.6 per cent over that time. There are, as ever, exceptions to the rule. Calgary, for example, saw sales up 7.2 per cent and prices up 6.9 per cent.
The CREA states, ‘There are still some real differences in trends between and within local housing markets. As always, all real estate is local, so buyers and sellers should speak to their local agents to appreciate how the housing market is shaping up where they live or are considering living.’ Good advice wherever you are buying.