Canadian home sales soften again from August to September
Ottawa, ON, October 14, 2022 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were down in September 2022.
- National home sales were down 3.9% on a month-over-month basis in September.
- Actual (not seasonally adjusted) monthly activity came in 32.2% below September 2021.
- The number of newly listed properties edged down 0.8% month-over-month.
- The MLS® Home Price Index (HPI) declined by 1.4% month-over-month but was still up 3.3% year-over-year.
- The actual (not seasonally adjusted) national average sale price posted a 6.6% year-over-year decline in September.
Home sales recorded over Canadian MLS® Systems fell by 3.9% between August and September 2022. From May through August, month-over-month declines have been progressively smaller. The September result marked a slight increase in the current sales slowdown that began with the Bank of Canada’s first rate hike back in March.
Access the September 2022 stats PDF.