As of the first two weeks of October 2023, the federal housing agency reported a vacancy rate of 1.5 per cent for purpose-built rental apartments in its annual survey released on January 31.
The association reports that last month saw a total of 3,979 completed sales, with an average price of $957,909, reflecting a more than 10 percent increase compared to the previous year.
January sales showed a 3.7 percent increase compared to the previous month and a significant 22 percent rise from the same period last year, which had experienced notably subdued sales.
The report noted that the surge represents a 0.8 per cent month-over-month rise.
In January, the Calgary Real Estate Board reported 1,650 home sales, indicating a 37.7 per cent year-over-year rise and a 15.4 per cent increase in newly listed homes within the city.
According to the board, home sales in January reached 1,427, reflecting a 38.5 percent surge compared to the same month last year. Nevertheless, it remained 20.2 percent below the 10-year seasonal average of 1,788 for the month.
The association reports that the month saw a total of 2,077 home sales in the region, marking an increase from 1,766 in January 2023.
With interest rate cuts likely on the horizon, the Canadian Real Estate Association expects the number of homes changing hands this year to grow following a slowdown in 2023. However, experts say they remain cautious about the timing and…
According to the report, the average asking rent reached a record high of $2,178 in December 2023, which showcased an 8.6 per cent increase from the same period in 2022.
According to CREA, home sales activity recorded over Canadian MLS Systems rose 8.7 per cent between November and December 2023.