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HomeCANADACanadian home sales rise 19.2% in December, CREA predicts strong rebound in...

Canadian home sales rise 19.2% in December, CREA predicts strong rebound in 2025

15th Jan: In December, Canadian home sales slowed down, but were still 10% higher in the fourth quarter compared to the third quarter, according to the Canadian Real Estate Association (CREA). This increase marked one of the strongest quarters for activity in the past 20 years, excluding the pandemic period.

While home sales were lower in December compared to October and November, CREA’s senior economist, Shaun Cathcart, suggested that the decline was likely due to fewer homes available for sale rather than a lack of demand.

Looking ahead, CREA expects a surge in demand during the spring of 2025, as lower interest rates are predicted to align with a rise in home listings once the winter ends.

Since June, the Bank of Canada has lowered interest rates by 1.75 percentage points to 3.25% to help boost the economy. Although sales fell by 5.8% in December compared to November, they increased by 19.2% year-over-year. The home price index rose by 0.3% from November but saw a slight decline of 0.2% compared to last year.

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