It’s fucking disgusting, we need more homes to pop this bubble.

This is the best summary I could come up with:

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.

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 is the least liquid of the year, with sales usually running well below half of peak spring volumes,” he wrote.

CREA senior economist Shaun Cathcart says trends suggest a market that is starting to turn a corner but is still working through the weakness of the last two years.

That ratio was neutral in Toronto, Montreal and Vancouver, while Calgary continued to have a sellers’ market.

The original article contains 311 words, the summary contains 146 words. Saved 53%. I’m a bot and I’m open source!