Existing home sales from the Canadian Real Estate Association:

  • Prior was +1.8%
  • There is no consensus estimate
  • Actual (not seasonally adjusted) activity was up 10% compared to December 2014.
  • The number of newly listed homes rose 2.2% from November to December
  • The national average sale price rose 12% on a year-over-year basis in December; excluding Greater Vancouver and Greater Toronto, it increased by 5.4%.

Canadian housing is starting to look like a very bad place to be.

"Supply is ample in many other major urban markets, particularly those where buyers have become cautious amid economic uncertainty," CREA's economist said.