Housing Market Statistics | January 2022
Canadian home buyers face record listings shortage to begin 2022
National Home Sales

Home sales recorded over Canadian MLS® Systems were little changed (+0.2%) between November and December 2021. Small gains in November and again in December followed on the heels of a 9% jump in activity in October, placing sales in the final quarter of 2021 between the highs and lows seen earlier in the year.

Actual Activity

The actual (not seasonally adjusted) number of transactions in December 2021 came in 9.9% below the record for that month set in 2020. That said, as has been the case throughout the second half of 2021, it was still the second-highest level on record for the month.

“ With the housing supply issues facing the country having only gotten worse to start 2022, take any decline in sales early in the year with a grain of salt because the demand hasn’t gone away, there just won’t be much to buy until a little later in this spring. But when those listings eventually start to show up, the spring market this year will almost certainly be another headline grabber. "
~ Cliff Stevenson, Chair of CREA
Newly Listed Homes

The number of newly listed homes fell back 3.2% in December compared to November, with declines in Greater Vancouver, Montreal and a number of other areas in Quebec more than offsetting an increase in new supply in the GTA.

MLS® Price Index

The non-seasonally adjusted Aggregate Composite MLS® HPI was up by a record 26.6% on a year-over-year basis in December.

National Average Sale Price

The actual (not seasonally adjusted) national average home price was $713,500 in December 2021, up 17.7% from the same month last year.

“ There are currently fewer properties listed for sale in Canada than at any point on record. So unfortunately, the housing affordability problem facing the country is likely to get worse before it gets better. ”
~ Shaun Cathcart, CREA’s Senior Economist

The actual (not seasonally adjusted) national average home price was $713,500 in December 2021, up 17.7% from the same month last year. The national average price is heavily influenced by sales in Greater Vancouver and the GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from the calculation in December 2021 cuts more than $150,000 from the national average price.