Canada’s home prices rise 9.6 in December compared to a year ago, sales up almost 23%

The Canadian Real Estate Association said home sales in December were up 22.7 per cent compared with a year ago when sales were relatively quiet. Sales in the final month of 2019 were up compared with a year ago across most of Canada, including all of the largest urban markets.

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On a month-over-month basis, home sales in December were down 0.9 per cent. The decline ended a streak of monthly gains that began last March.

The actual national average price for a home sold in December 2019 was about $517,000, up 9.6 per cent compared with a year earlier. Excluding the Greater Vancouver and Greater Toronto Area, two of the country’s most expensive and active housing markets, the average price of a home sold was about $400,000, up 6.7 per cent compared with December 2018.

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READ MORE: Home prices in Metro Vancouver continue to fall, but average still sits over $1M: report