Canadian Home Sales Edge Lower in December

OTTAWA—According to statistics released by The Canadian Real Estate Association (CREA), national home sales edged lower in December 2015 compared to the previous month, but held above year-ago levels.
Highlights:
• National home sales edged back by 0.6% from November to December.
• Actual (not seasonally adjusted) activity was up 10% compared to December 2014.
• The number of newly listed homes rose 2.2% from November to December.
• The Canadian housing market remains balanced overall.
• The MLS Home Price Index (HPI) rose 7.3% year-over-year in December.
• The national average sale price rose 12% on a year-over-year basis in December; excluding Greater Vancouver and Greater Toronto, it increased by 5.4%. The number of homes trading hands via MLS Systems of Canadian real estate Boards and Associations edged back by 0.6 percent in December 2015 compared to November. Activity nonetheless remains close to a six-year high.