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Canadian home resales fall, prices rise: CREA

VANCOUVER (NEWS1130) – Home resales across Canada were lower in January than a year earlier, led by a plunge in Alberta as the falling price of oil shook that market’s confidence.

An industry group says sales of existing homes nationwide fell two per cent, although the average price rose 3.1 per cent.

The Canadian Real Estate Association says home sales in Calgary sank 23.9 per cent last month from December and were down 35.5 per cent from the previous January.

The average unadjusted price of a Calgary home fell about one per cent to $444,000.

Metro Vancouver home prices were up 5.5 per cent year-over-year to $642,000 as sales rose eight per cent.