Home sales hit record in 2020 despite pandemic
A real estate sold sign hangs in front of a west-end Toronto property Friday, Nov. 4, 2016. THE CANADIAN PRESS/Graeme Roy
The Canadian Press
Published Friday, January 15, 2021 10:36AM EST
OTTAWA -- The Canadian Real Estate Association says home sales in December hit an all-time record for the month to end what was also a record year.
It says December sales were up 47.2 per cent compared with December 2019, the largest year-over-year gain in monthly sales in 11 years.
Sales for the month were also up 7.2 per cent compared with November.
For 2020 as a whole, CREA says some 551,392 homes were sold, up 12.6 per cent from 2019, and a new annual record.
The actual national average home price was a record $607,280 in December, up 17.1 per cent from the final month of 2019.
CREA says excluding Greater Vancouver and the Greater Toronto Area, two of the most active and expensive markets, lowers the national average price by almost $130,000.
This report by The Canadian Press was first published Jan. 15, 2021.