Canadian home sales down in November, average price up from year ago: CREA

The Canadian Real Estate Association says home sales fell in November as the average price of a home sold inched higher compared with a year ago.

The association says November home sales fell 0.9 per cent compared with the same month last year.

On a seasonally adjusted basis, November home sales were also down 0.9 per cent compared with October this year.

The number of newly listed homes fell 1.8 per cent on a month-over-month basis in November.

CREA says with new listings down more than sales in November, the national sales-to-new listings ratio rose for the first time since April to come in at 49.8 per cent compared with 49.4 per cent in October.

The actual national average price of a home sold in November was $646,134, up two per cent from November 2022.

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