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Canadian home sales enjoy a hot start to 2019

Home sales across the country enjoyed a boost at the beginning of 2019.

Although, that’s not saying much considering 2018’s dismal real estate sales numbers.

Sales climbed 3.6% between December and January, led by the Montreal, Ottawa and Winnipeg markets.

However, numbers were still down 4% year-over-year were and record sales during January 2019 were the lowest for the first month of the year since 2015.

They also came in below the 10-year average for the month on a national basis and in Canada's three eastern provinces, Ontario and Newfoundland & Labrador.

"Homebuyers are still adapting to tightened mortgage regulations brought in last year, "said CREA President Barb Sukkau.

"However, their impact on homebuyers varies by location, housing type and price segment. All real estate is local. A professional realtor remains your best source for information and guidance in negotiating the purchase or sale of a home during these changing times."

The number of newly listed homes edged up 1% in January, led by a jump in new supply in Greater Vancouver and Hamilton.



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