OTTAWA, May 15, 2013 /CNW/ - According to statistics released today by
The Canadian Real Estate Association (CREA), national home sales edged
up slightly on a month-over-month basis in April 2013. Activity has
generally held to within short reach of current levels for the past
National home sales rose 0.6% from March to April.
Actual (not seasonally adjusted) activity came in 3.1% below levels in
The number of newly listed homes fell 0.9% from March to April.
The Canadian housing market remains firmly in balanced territory.
The national average sale price rose 1.3% on a year-over-year basis in
The MLS® HPI rose 2.2% in April, its smallest gain in more than two
The number of home sales processed through the MLS® Systems of real
estate Boards and Associations and other cooperative listing systems in
Canada edged 0.6 per cent higher on a month-over-month basis in April
Home sales improved in more than half of all local markets from March to
April, led by gains in Greater Toronto, Winnipeg, Calgary, and
"National sales activity is stable and the market remains balanced,"
said CREA President Laura Leyser. "That said, trends for sales and
listings and for the balance between the two can be and often are very
different between and within local housing markets, and between
property types and neighbourhoods. These trends are important factors
in determining pricing. Your local REALTOR® is your best resource for
understanding how the housing market is shaping up where you live or
might like to."
Actual (not seasonally adjusted) activity came in 3.1 per cent below
levels reported in April 2012, with transactions down on a
year-over-year basis in about 60 per cent of local markets.
That compares to a decline of more than 15 per cent in March, with
transactions down in more than 90 per cent of all local markets.
"The Easter holiday and an extra full weekend at the end of the month
lowered March sales activity and the absence of these factors in April
helped sales for the month," said Gregory Klump, CREA's Chief
"Since changes to mortgage rules made in 2012 took effect, national
sales have been running nine to 10 per cent below levels posted in the
first half of 2012 but they've been remarkably steady. April activity
was on par with where it stood last August, and month-to-month changes
since then have held to within a range of plus or minus two per cent."
Monthly changes in national sales activity have held to within this
narrow range over a nine month period only once before since CREA's
seasonally adjusted data began in 1988.
The number of newly listed homes fell 0.9 per cent month-over-month in
April. New listings were down in about half of all local markets, led
by Montreal and much of rural Quebec, as well as Ottawa and Greater
With sales edging up and new listings edging down, the national
sales-to-new listings ratio inched up to 50.4 per cent in April
compared to 49.7 per cent in March. This measure has held fairly steady
around this level for the past nine months.
Based on a sales-to-new listings ratio of between 40 to 60 per cent,
two-thirds of all local markets were in balanced market territory in
The number of months of inventory is another important measure of
balance between housing supply and demand. It represents the number of
months it would take to completely liquidate current inventories at the
current rate of sales activity.
Nationally, there were 6.6 months of inventory at the end of April 2013.
This was unchanged from the end of March and has also held fairly
steady around this level for the past nine months.
The actual (not seasonally adjusted) national average price for homes
sold in April 2013 was $380,588, representing an increase of 1.3 per
cent from the same month last year.
Fewer sales compared to a year-ago levels in Greater Vancouver and
Greater Toronto continue to exert a gravitational pull on the national
average sale price.
The MLS® Home Price Index (MLS® HPI) is not affected by changes in the
mix of sales the way that average price is. For that reason, it
provides the best gauge of Canadian home price trends. This month,
Saskatoon joins the MLS® HPI.
The Aggregate Composite MLS® HPI rose 2.2 per cent on a year-over-year
basis in April.
This marks the eleventh consecutive month in which the year-over-year
gain diminished and the slowest growth rate in more than two years.
Year-over-year price gains decelerated for all Benchmark property types
tracked by the index with the exception of apartment units in April,
with the latter rising by less than inflation.
Price growth remained strongest for one-storey single family homes (+3.1
per cent), followed by two-storey single family homes (+2.6 per cent),
townhouse/row units (+1.7 per cent), and apartment units (+1.0 per
Year-over-year price growth in the aggregate MLS® HPI for all Benchmark
property types combined was mixed across the markets tracked by the
PLEASE NOTE: The information contained in this news release combines
both major market and national MLS® sales information from the previous
CREA cautions that average price information can be useful in
establishing trends over time, but does not indicate actual prices in
centres comprised of widely divergent neighbourhoods or account for
price differential between geographic areas. Statistical information
contained in this report includes all housing types.
MLS® is a co-operative marketing system used only by Canada's real
estate Boards to ensure maximum exposure of properties listed for sale.
The Canadian Real Estate Association (CREA) is one of Canada's largest
single-industry trade associations, representing more than 106,000
REALTORS® working through more than 90 real estate Boards and
Further information can be found at http://crea.ca/statistics.
SOURCE: Canadian Real Estate Association
For further information:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460