January home sales jumped 22 per cent compared with a year ago, the largest year-over-year increase since May 2021, according to The Canadian Real Estate Association.
The association says the increase reflected weakness last year, which saw the worst start to almost any year in the past two decades.
Home sales in January 2024 were up 3.7 per cent on a seasonally adjusted basis when compared with December 2023, the CREA report said.
It’s worth a reminder that the winter months can make housing data variable and messy, wrote Bank of Montreal senior economist Robert Kavcic in a note.
“Activity in the December/January period
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