November home sales, prices up from year-ago mark, Canadian group says

Average price was around $404,000 – outside of the greater Toronto and Vancouver areas

An aerial view of houses in Oshawa, Ont. THE CANADIAN PRESS/Lars Hagberg

The Canadian Real Estate Association says November home sales rose 11.3 per cent compared with a year ago.

The association says 37,213 homes were sold through its MLS systems, up from 33,437 in November 2018.

The increase in sales came as the national average price for a home sold in November was about $529,000, up 8.4 per cent compared with a year ago. Excluding Greater Toronto and Greater Vancouver, the average price was around $404,000, up 6.9 per cent compared with last year.

In its updated outlook, the association says it expects home sales this year to total 486,800, while it says the national average price is on track to rise 2.3 per cent.

That compared with an earlier forecast for 482,000 home sales for 2019 and a 0.5 per cent increase in the national average price.

ALSO READ: CMHC expects housing market to recover in next two years after declines

For 2020, CREA says it expects home sales to rise 8.9 per cent next year to 530,000. The national average price is forecast to rise 6.2 per cent to $531,000.

The Canadian Press

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Vernon Vipers’ Trey Taylor wins with Team West at CJHL Top Prospects game

17-year-old defenseman also makes NHL Central Scouting list of top prospects

Vernon watercolour artist returning to spotlight

Patricia Neil Lawton is holding her first art show in 5 years at Nadine’s Fine Art and Frames, Feb. 8

Cows, cars and more: Coldstream secondary students show off capstone projects

Kalamalka Secondary seniors displayed Career Life Connections capstone projects Jan. 15

Low-level meth dealer gets 6 months jail time in Vernon

BC Supreme Court Justice’s sentence concludes case related to June 2017 offence

Vernon perfect getaway for Prince Harry and Meghan Markle, mayor says

Family-oriented community also home to Royal interests; film and helicopter industries

‘Like an ATM’: World’s first biometric opioid-dispensing machine launches in B.C.

First-of-its-kind dispensing machine unveiled in the Downtown Eastside with hopes of curbing overdose deaths

Horgan cancels event in northern B.C. due to security concerns, says Fraser Lake mayor

The premier will still be visiting the city, but the location and day will not be made public

B.C. landlord sentenced to two years in jail for torching his own rental property

Wei Li was convicted of intentionally lighting his rental property on fire in October 2017

B.C. town spends $14.14 per resident for snow removal in one month

Costs of snow removal to the Town of Princeton skyrocketed in December.… Continue reading

PHOTOS: Eastern Newfoundland reeling, search underway for missing man after blizzard

More than 70 centimetres of new snow fell overnight, creating whiteout conditions

Prince Harry, Meghan to give up ‘royal highness’ titles

‘Harry, Meghan and Archie will always be much loved members of my family,’ says Queen Elizabeth II

Photo reminds Salmon Arm resident of connection to former drama teacher Justin Trudeau

Prime minister remembered as being as a funny, larger-than-life person

Province says it is monitoring AIM’s road maintenance

The provincial transportation ministry is working closely with new road contractor AIM,… Continue reading

‘It’s still early’: Flu rates down so far this year at Interior Health

At Kelowna General Hosptial, there have been about 50 confirmed cases

Most Read