December 2022 CREA statistics and Quarterly forecast
Canadian home sales edge up to end 2022
Ottawa, ON, January 16, 2023 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up on a month-over-month basis in December 2022.
- National home sales rose 1.3% month-over-month in December.
- Actual (not seasonally adjusted) monthly activity came in 39.1% below December 2021.
- The number of newly listed properties dropped 6.4% month-over-month.
- The MLS® Home Price Index (HPI) declined by 1.6% month-over-month and was down 7.5% year-over-year.
- The actual (not seasonally adjusted) national average sale price posted a 12% year-over-year decline in December.
- Home sales recorded over Canadian MLS® Systems edged up by 1.3% between November and December 2022. Gains were led by Ottawa and Edmonton.
Access the December 2022 stats PDF.
CREA Updates Resale Housing Market Forecast
Ottawa, ON January 16, 2023 - The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via Multiple Listing Service® (MLS®) Systems of Canadian real estate boards and associations in 2023 and extended the outlook to 2024.
The extent to which some 2023 figures have been revised from the previous forecast reflects a change to publication dates which has allowed an additional full quarter of data to be included in the forecast. As a result, this forecast is populated with an additional six months of data compared to the previous forecast published in September 2022.
National home sales have been more or less stable since the summer, suggesting the downward adjustment to sales activity from rising interest rates and high uncertainty may be in the rear-view mirror.
Access the January 2023 forecast PDF.