TORONTO — Home sales rose in an unseasonably warm January to mark a second month of rising activity and softening prices, the Canadian Real Estate Association said Wednesday.
The rise in sales is helping tighten market conditions, though areas with the highest sales gains are still seeing prices trend lower, said CREA senior economist Shaun Cathcart in a press release. Sales gains in January from a month earlier were most notable in Ontario, which saw a seasonally adjusted 6.9 per cent gain, and B.C., where sales rose 4.5 per cent.
The rise in sales, helped by the weather and falling bond yields, are moving past TD's expectations, said Sondhi. BMO senior economist Robert Kavcic cautioned in a note that sales are generally weak in the winter months, so it won't be until spring housing numbers start to appear that there will be a clear picture on the trend."So far, there remain encouraging signs that the market has troughed alongside improved sentiment and some lower fixed mortgage rates — and there is pent-up demand on the sidelines.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: storeyspub - 🏆 16. / 74 Read more »