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

Home sales in December were up nearly 23 per cent compared to the same month a year earlier, when activity had been relatively quiet, the Canadian Real Estate Association said on Wednesday, Jan. 15, 2020.
Home sales in December were up nearly 23 per cent compared to the same month a year earlier, when activity had been relatively quiet, the Canadian Real Estate Association said on Wednesday, Jan. 15, 2020. Darren Calabrese/CP

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.

Money 123: Renting vs. owning
Money 123: Renting vs. owning

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.

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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.

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