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A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Tuesday, January 18, 2022

What's hitting housing inventory in Canada?

CREA shares details

Canadian home sales remained historically high in December, driving a record listings shortage at the start of 2022.

The latest data from the Canadian Real Estate Association showed that home sales ticked up by 0.2% monthly in December, reaching their second-highest ever activity level for that month despite a 9.9% annual decline.

“Small gains in November and again in December followed on the heels of a 9% jump in activity in October, placing sales in the final quarter of 2021 between the highs and lows seen earlier in the year,” CREA said.

Across the whole of 2021, a total of 666,995 residential sales took place in Canada, setting a new record high and exceeding the previous annual record established in 2020 by more than 20%. The 2021 level was also 30% higher than the average over the last 10 years, CREA said.

The number of new listings dropped by 3.2% from November to December, with supply boosts in the Greater Toronto Area dragged down by declines in Greater Vancouver, Montreal, and several other areas in Quebec. The national sales-to-new listings ratio stood at 79.7%, much tighter than the long-term average of 54.9%.

“With the housing supply issues facing the country having only gotten worse to start 2022, take any decline in sales early in the year with a grain of salt because the demand hasn’t gone away, there just won’t be much to buy until a little later in this spring,” said Cliff Stevenson, chair of CREA.

The national average home price grew by 17.7% annually to reach $713,500, with heavy influence from sales in Greater Vancouver and the GTA. CREA said that removing these two markets from the December calculation cuts more than $150,000 from the national average price.

MBN

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