National Home Sales Continue To Increase

National home sales edged up 0.2 per cent month-over-month in December, says the Canadian Real Estate Association (CREA). Additionally, the actual monthly activity was 9.9 per cent below the record posted in December 2020 and the number of newly listed properties fell 3.2 per cent from November to December. "There are currently fewer properties listed for sale in Canada than at any point on record," says Shaun Cathcart, senior economist for CREA. "Unfortunately, the housing affordability problem facing the country is likely to get worse before it gets better.” Furthermore, there were 1.6 months of inventory on a national basis at the end of December, the lowest level ever recorded.