Canadian home sales fell by 14.5 per cent in January compared to December — to the lowest level in three years — with the slow Toronto area market helping pull down the national average, according to the Canadian Real Estate Association (CREA). Seasonally adjusted sales in the Toronto area were down 26.6 per cent between December and January, compared to 11.7 per cent in the rest of Canada for that period. The Toronto region and Vancouver “heavily skewed” the national average, said CREA. Sales were down last month in three-quarters of Canadian markets, including all major cities, with many of the steepest declines in Ontario’s Greater Golden Horseshoe, said CREA. The uncertainty that has consumers taking a step back from the housing market will persist unless the government addresses the shortage of supply in Toronto and Vancouver, said CREA.

Source: thestar February 15, 2018 15:00 UTC