The Canadian Real Estate Association (CREA) released its existing homes sales data for Canada on Tuesday. Sales of existing homes in Canada climbed 8% year-on-year in January.
The national average home price jumped 17% year-on-year in January.
The increase in the national average home price was mainly driven rises in Vancouver and Toronto. The average sale price in greater Vancouver jumped 32.3% year-over-year in January, while the price in greater Toronto soared 14.2%.
On a monthly basis, sales of existing homes rose 0.5% in January.