Real estate for sale sign. (The Canadian Press files)

CREA reports home sales up 11.5% compared with a year earlier

Home prices declined slightly in Greater Vancouver and in Prairie cities

The Canadian Real Estate Association says home sales rose 11.5 per cent in January compared with a year earlier to reach the highest sales figures for the month in 12 years, even as new listings remain constrained.

The association says seasonally-adjusted sales fell 2.9 per cent in January from a month earlier, dragged down by a roughly 18 per cent drop in sales in the Lower Mainland of British Columbia.

The actual average price for homes sold in January was about $504,350, up 11.2 per cent from the same month a year earlier for the largest increase since mid-2016.

Removing the Greater Vancouver Area and Greater Toronto Area from the picture, the national average price falls to around $395,000.

ALSO READ: CREA reports home sales in September up 15.5% from year ago

Home prices declined slightly in Greater Vancouver and in Prairie cities, while Montreal and cities in Ontario saw strong gains.

Prices rose as new listings remain near decade lows, though they edged up 0.2 per cent in January from December.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Real estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Qualicum Beach man arrested over racist incident at Tseshaht First Nation

Port Alberni RCMP said the man turned himself in

Tla-o-qui-aht First Nation woman, 26, fatally shot by police in Edmundston, N.B.

Police were conducting a well-being check at the time of the incident

BCHL: Bulldogs trade veteran defenceman, acquire new players during offseason

Grayson Valente suited up for three seasons with the Alberni Valley Bulldogs

ARTS AROUND: Rollin Art Centre garden opening June 16

Virtual art exhibits and gift shop to come

A LOOK BACK: maritime history of Alberni Inlet

Take a peek at Alberni Valley history with Alberni Valley Museum

March dental conference key to many of B.C.’s COVID-19 cases

Early infections from China, Iran were quickly contained

An ongoing updated list of Alberni Valley events affected by COVID-19

Has your event been cancelled or postponed? Check here

Cortes Island affordable housing project hangs by a thread

Regional decision makers resort to COVID-19 concerns despite virtual meeting option and push hearing to September

MAP: Dr. Henry reveals which B.C. regions have seen most COVID-19 cases

B.C. health officials release a first look at how the novel coronavirus has reached all corners of the province

North Island recreation camping site closed due to vandalism

Damage happens every year, forcing site manager to reallocate improvement budget to repairs

Seniors to receive up to $500 in promised COVID-19 emergency aid in early July

The Liberal government first promised the extra help in mid-May, but had to create a new system to deliver the aid

VIDEO: Revelstoke bear wanders into Animal House pet store

Staff got ready to chase it out with a broom

Man found dead in his tent at Island homeless camp

Facebook posts tell of personal struggles and attempts to stay clean and sober

New study is first full list of species that only exist in Canada

Almost 40 per cent of them are critically imperilled or imperilled and eight are already extinct

Most Read