January home sales were weakest since 2015, average national price falls: CREA

CREA says the national average price for all types of residential properties sold in January was $455,000

The Canadian Real Estate Association says last month was the weakest January for residential sales since 2015, with the number of transactions down four per cent nationally from last year.

The association says about 23,968 properties were sold through the Multiple Listing Service in January, down from 24,977 a year earlier.

CREA says the national average price for all types of residential properties sold in January was $455,000, down 5.5 per cent from the same month in 2018 — the biggest year-over-year decline for a month since May 2018.

The MLS house price index — which adjusts for differing property types — was up 0.8 per cent year-over-year, the smallest increase since June 2018.

READ MORE: Real estate board calls on Ottawa to revisit mortgage stress test

In the Greater Vancouver area, price index was down about 4.5 per cent year-over-year but up 4.2 per cent in Victoria and up 9.3 per cent from a year ago elsewhere on Vancouver Island.

The index for the Greater Toronto Area was up 2.7 per cent and up 6.3 per cent for the Greater Montreal area, but down in Regina (minus 3.8 per cent), Saskatoon (minus 2.0), Calgary (minus 3.9), and Edmonton (minus 2.9)

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Parksville Beach Festival Society launches campaign for outdoor stage

Public invited to event May 25 to help with kickoff

Crime Report: Oceanside RCMP receive 328 complaints in one-week span

Vandalism and theft of a wheelchair among listed incidents

Controversial cell tower proposal in Coombs clears another hurdle

Committee indicates Rogers satisfactorily completed requirements

Parksville advocate to discuss harm-reduction measures for addicts

Morris, along with a panel of professionals, will be at the PCC on May 21

Oceanside RCMP member rides for childhood cancer research in Tour de Rock

Tim Kenning will cycle 1,000 kilometres in 22nd annual event

UPDATE: B.C. pilot killed in Honduras plane crash

The crash happened in the Roatan Islands area, according to officials

B.C. ferry stops to let black bear swim past near Nanaimo

Queen of Oak Bay brakes for wildlife in Nanaimo’s Departure Bay

RCMP arrest violent offender on Vancouver Island

Campbell River police struggle with suspect and take him down with a taser

Two cats die in house fire in Nanaimo

Fire happened just after 2 p.m. Sunday on Fifth Street, one resident displaced

RDN looking into providing bus service 365 days a year

RDN transit committee to consider adding bus service on Christmas, New Year’s and Good Friday

One year after heartbreaking B.C. search, wife reflects on late husband

First anniversary of Ben Kilmer’s disappearance, and a search that galvanized Vancouver Island

‘Teams that win are tight’: B.C. Lions search for chemistry at training camp

The Lions added more than 50 new faces over the off-season, from coaching staff to key players

Rescue crews suspend search for Okanagan kayaker missing for three days

71-year-old Zygmunt Janiewicz was reported missing Friday

B.C. VIEWS: Reality of our plastic recycling routine exposed

Turns out dear old China wasn’t doing such a great job

Most Read