{"id":23234,"date":"2024-01-23T10:10:00","date_gmt":"2024-01-23T18:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=23234"},"modified":"2024-01-22T14:39:04","modified_gmt":"2024-01-22T22:39:04","slug":"crea-winter-housing-markets-warmup-national-home-sales-closed-out-on-a-high","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2024\/01\/crea-winter-housing-markets-warmup-national-home-sales-closed-out-on-a-high\/","title":{"rendered":"CREA Winter Housing Markets Warmup, National Home Sales Closed Out on A High"},"content":{"rendered":"<p style=\"text-align: justify;\">According to the Canadian Real Estate Association\u2019s (CREA) report for December 2023, the nation\u2019s home sales closed out on a high.<\/p>\n<p style=\"text-align: justify;\">These numbers came as a bit of a surprise to CREA, given that high interest rates and seasonality predicted a slower end to the year. CREA stated on Monday that national home sales rose 8.7% from November to December 2023. Meanwhile, the actual (not seasonally adjusted) number of transactions was 3.7% above December 2022, the most significant year-over-year gain since August.<\/p>\n<p style=\"text-align: justify;\">While the numbers may indicate optimism for buyers seeking to enter the market, CREA tempered expectations by pointing out it\u2019s still too early to tell which way the wind will blow.<\/p>\n<p style=\"text-align: justify;\">\u201cWhile December did offer up a bit of a surprise in sales numbers to cap the year, the real test of the market\u2019s resilience will be in the spring,\u201d said Larry Cerqua, chairperson of CREA. \u201cThere are only a couple of months left until that gets underway. If you\u2019re looking to buy or sell a property in 2024, you\u2019ll want a game plan,\u201d continued Cerqua.<\/p>\n<p style=\"text-align: justify;\">\u201cWas the December bounce in home sales the start of the expected recovery in Canadian housing markets? Probably not just yet,\u201d said Shaun Cathcart, CREA\u2019s senior economist. \u201cIt was more likely just some of the sellers and buyers holding onto unrealistic pricing expectations last fall finally coming together to get deals done before the end of the year. We\u2019re still forecasting a recovery in housing demand in 2024, but we\u2019ll have to wait a few more months to get a sense of what that ultimately looks like.\u201d<\/p>\n<p style=\"text-align: justify;\">The softening we\u2019ve witnessed in previous months continues in parts of Ontario and out west.<\/p>\n<p style=\"text-align: justify;\">Recent price decreases have mostly affected markets in Ontario, especially the Greater Golden Horseshoe and, to a lesser degree, British Columbia. Prices are either staying steady or rising in other parts of Canada, such as Alberta, New Brunswick, Newfoundland, and Labrador.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/articles\/news\/crea-reports-a-winter-warmup-for-the-december-housing-market\" target=\"_blank\" rel=\"noopener\">CREA Reports A Winter Warmup for The December Housing Market<\/a> by Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the Canadian Real Estate Association\u2019s (CREA) report for December 2023, the nation\u2019s home sales closed out on a high. These numbers came as a bit of a surprise &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2024\/01\/crea-winter-housing-markets-warmup-national-home-sales-closed-out-on-a-high\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,13],"tags":[],"class_list":["post-23234","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CREA Winter Housing Markets Warmup, National Home Sales Closed Out on A High &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2024\/01\/crea-winter-housing-markets-warmup-national-home-sales-closed-out-on-a-high\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"CREA Winter Housing Markets Warmup, National Home Sales Closed Out on A High &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"According to the Canadian Real Estate Association\u2019s (CREA) report for December 2023, the nation\u2019s home sales closed out on a high. 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