Canada home sales edge up in first monthly gain since February

Houses for sale in Ottawa

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Canadian home sales edged up 1.3 per cent in October, the first monthly gain since February, as buyers showed signs of coming off the sidelines, according to figures released Tuesday by the Canadian Real Estate Association (CREA).

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The slight increase in sales volumes was accompanied by a decline in prices. The MLS Home Price Index fell by 1.2 per cent on a month-over-month basis and 0.8 per cent over the same month in 2021. The actual national average home price was $644,643 in October 2022, down 9.9 per cent from the same month last year.



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