The average home price in January was $401,143, a 1.0% decrease compared with the previous month. The pace of the year-over-year price increase continued to slow and stood at 3.2% in January.
In January, a seasonally adjusted 38,113 homes sold accord to the Canadian Real Estate Association. This remains 4.5% above the same month of the previous year but was a decline of 3.1% from the previous month.
A seasonally adjusted 76,649 homes came on the market in January. This dropped the sales-to-new-listings ratio to its slowest level since March 2013. If inventory continues to loosen price growth will likely continue to slow.
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