What’s Happening in Canadian Housing Markets as We Head into 2023?
Posted by Paul Lamba on
On Thursday, December 15, the Canadian Real Estate Association (CREA) released its national housing statistics for the month of November. Below, CREA’s Senior Economist Shaun Cathcart provides an update on the current state of housing markets in Canada and explains what the data means for REALTORS®:
Just as one car does not make a parade (at least not a very good one), one month of data does not make a trend. To wit, it looks like that little sales increase we saw in October was something of a head fake, because activity started trending back down again in November.
Sales in November were down 3.3% on a month-over-month basis, rejoining the trend of moderating sales that began back in February.
The Aggregate Composite MLS® Home Price Index…
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