Canadian housing market gain momentum with a 4% rise in January sales

Posted on February 16, 2024   |  

Home sales in Canada grew by 3.7% from December to January, building on the prior month's 7.9% rise.

Compared to January 2023, transactions grew by 22%, marking the largest year-over-year gain since May 2021.

The number of newly listed homes saw a slight 1.5% uptick in January, remaining close to levels observed since June 2023.

National inventory fell to 3.7 months by the end of January, down from 3.8 months in December and 4.1 months in November. 

The national average home price rose by 7.6% year-over-year to $659,395.