The Canadian Real Estate Association News Release

Transcription

1 The Canadian Real Estate Association News Release Canadian home sales up from November to December Ottawa, ON, January 16, 2017 According to statistics 1 released today by The Canadian Real Estate Association (CREA), national home sales were up on a month-over-month basis in December Highlights: National home sales rose 2.2% from November to December. Actual (not seasonally adjusted) activity in December was down 5.0% from a year earlier. The number of newly listed homes dropped 3.0% from November to December. The MLS Home Price Index (HPI) in December was up 14.2% (y-o-y). The national average sale price climbed 3.5% y-o-y in December. The number of homes trading hands via Canadian MLS Systems rose 2.2% month-over-month in December The rebound recovered less than half of the drop in activity from October to November, when it posted the biggest retreat in more than four years after tightened mortgage regulations came into effect. (Chart A) Chart A Activity was up on a month-over-month basis in about 60% of all local markets, led by Calgary and Edmonton where sales rallied following large declines in November. Actual (not seasonally adjusted) sales * Data table available to media upon request, for purposes of reprinting only. activity was down 5.0% in December from a year ago, when it reached the highest level ever for the month. The number of homes changing hands in 2016 was up by 6.3% annually, reflecting strong sales activity in the first half of the year that has softened since. Sales set a new annual record last year, said CREA President Cliff Iverson. However, tightened mortgage regulations are expected to contribute to lower sales activity this year, though the extent to which they will weigh on housing markets across Canada will vary. All real estate is local, and REALTORS remain your best source for information about sales and listings where you live or might like to in the future. Home sales are unlikely to benefit the Canadian economy as much in 2017 as they did in 2016, said Gregory Klump, CREA s Chief Economist. New regulations mean that in order to qualify for a mortgage, home buyers will either have to save longer for a bigger down payment or purchase a lower priced home. In urban centres where the latter are in short supply, that s likely to translate into fewer sales. The number of newly listed homes fell 3.0% in December 2016 compared to November. New listings were down in about 60% of all local markets, with sizeable declines in B.C. s Lower Mainland, Calgary and the 1 All figures in this release except price measures are seasonally adjusted unless otherwise noted. Removing normal seasonal variations enables meaningful analysis of s and fundamental trends. The trademarks MLS, Multiple Listing Service and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. 1

2 Greater Toronto Area (GTA). With sales up and new listings down, the national sales-to-new listings ratio rose to 63.5% in December compared to 60.3% in November. A sales-to-new listings ratio between 40% and 60% is generally consistent with balanced housing market conditions, with readings below and above this range indicating buyers and sellers markets respectively. The ratio was above 60% in more than half of all local housing markets in December, the vast majority of which are located in British Columbia, in and around the GTA and across Southwestern Ontario. The number of months of inventory is another important measure of the balance between housing supply and demand. It represents how long it would take to completely liquidate current inventories at the current rate of sales activity. There were 4.6 months of inventory on a national basis at the end of December 2016 down from 4.8 months in November. The tight balance between housing supply and demand in Ontario s Greater Golden Horseshoe region is without precedent (the region includes the GTA, Hamilton-Burlington, Oakville-Milton, Guelph, Kitchener- Waterloo, Cambridge, Brantford, the Niagara Region, Barrie and nearby cottage country). The number of months of inventory in December ranged between one and two months in many of these housing markets, and stood below one month in the Durham Region, Orangeville, Oakville-Milton, Kitchener-Waterloo, Brantford and Cambridge. Chart B The Aggregate Composite MLS HPI rose by 14.2% y-o-y in December The increase has diminished in recent months (14.4% y-o-y in November; 14.6% y-o-y in October) due to softening price trends for single family homes in B.C. s Lower Mainland. (Chart B) Price gains remained strongest for two-storey single family homes and townhouse/row units (16.1% y-o-y and 15.4% y-o-y respectively), followed closely by one-storey single family homes (13.3% y-o-y) and apartment units (12.0% y-o-y). While benchmark home prices were up from year-ago levels in 9 of 11 housing markets tracked by the MLS HPI, trends continued to vary widely by location. * Data table available to media upon request, for purposes of reprinting only. In the Fraser Valley and Greater Vancouver, prices continued to recede from their peaks reached in August 2016 but remained above year-ago levels (+27.0% y-o-y and +17.8% y-o-y respectively). Meanwhile, benchmark prices climbed to new heights in Victoria and elsewhere on Vancouver Island, and in the GTA. The trademarks MLS, Multiple Listing Service and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. 2

3 By comparison, home prices were down 3.7% y-o-y in Calgary and edged lower by 1.6% y-o-y in Saskatoon, continuing their retreat from peaks reached in Home prices were up modestly from year-ago levels in Regina (+5.2%), Ottawa (+4.0%), Greater Montreal (+3.3%) and Greater Moncton (+1.9%). Monthly trends suggest that prices have begun to stabilize in all of these markets except Greater Montreal, where values continue to rise modestly. (Table 1) The MLS Home Price Index (MLS HPI) provides the best way of gauging price trends because average price trends are prone to being strongly distorted by s in the mix of sales activity from one month to the next. The actual (not seasonally adjusted) national average price for homes sold in December 2016 was $470,661, up 3.5% from where it stood one year earlier. This marks the smallest y-o-y increase in nearly two years. The national average price continues to be pulled upward by sales activity in Greater Vancouver and the GTA, which remain two of Canada s tightest, most active and expensive housing markets. That said, Greater Vancouver s share of national sales activity has diminished considerably over the last year, giving it less upward influence on the national average price. The average price is reduced by almost $120,000 to $352,513 if Greater Vancouver and GTA sales are excluded from calculations. The trademarks MLS, Multiple Listing Service and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. 3

4 Table 1 Composite HPI: December 2016 MLS Home Price Index Benchmark Price 1 month ago 3 months ago Percentage Change vs. 6 months ago 12 months ago 3 years ago 5 years ago Aggregate $582, Lower Mainland $803, Greater Vancouver $897, Fraser Valley $628, Vancouver Island $372, Victoria $550, Calgary $431, Regina $292, Saskatoon $299, Greater Toronto $694, Ottawa $341, Greater Montreal $312, Greater Moncton $161, Interactive tables and charts for MLS Home Price Index data on Composite, Single family homes (including separate indices for one- and two-storey homes), Townhouse/row units, and Apartment units are available at Data table available to media upon request, for purposes of reprinting only. PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS Systems from the previous month CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types. MLS Systems are co-operative marketing systems used only by Canada s real estate Boards to ensure maximum exposure of properties listed for sale. The Canadian Real Estate Association (CREA) is one of Canada s largest single-industry trade associations, representing more than 115,000 REALTORS working through some 90 real estate Boards and Associations. Further information can be found at For more information, please contact: Pierre Leduc, Media Relations The Canadian Real Estate Association Tel.: or pleduc@crea.ca The trademarks MLS, Multiple Listing Service and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. 4

5 National Charts Chart 1 Chart 2 Chart 3 Chart 4 Chart 5 Chart 6 The trademarks MLS, Multiple Listing Service and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. 5

6 MLS Home Price Index The trademarks MLS, Multiple Listing Service and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. 6

7 The trademarks MLS, Multiple Listing Service and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. 7

8 MLS Home Price Index The trademarks MLS, Multiple Listing Service and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. 8

9 The trademarks MLS, Multiple Listing Service and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. 9

10 Dollar Volume over MLS Systems of Select Canadian Real Estate Boards & Associations December 2016 Dollar Volume* s.a. 2 nsa 3 s.a. 2 nsa 3 Fraser Valley 1, Greater Vancouver 2, , , , , , , , Victoria Calgary 1, Edmonton Regina Saskatoon Winnipeg Hamilton-Burlington Kitchener-Waterloo London and St Thomas Niagara Region Ottawa Sudbury Thunder Bay Greater Toronto 7, , , , , , , , Windsor-Essex Trois Rivières CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Montreal CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Gatineau CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Quebec CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Saguenay CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Sherbrooke CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Saint John Halifax-Dartmouth Newfoundland & Labrador Canada 22, , , , , , , , * in millions of dollars Detailed data for the Toronto Real Estate Board (TREB) market area can be found at 1 Total = + Non-residential Note: Due to revisions to geographical coverage, statistics for the Kitchener-Waterloo region from 2000 forward are not directly comparable with its statistics for previous years. Note: Due to s in local market boundaries and data collection in the province of Quebec, local market and provincial totals for Quebec and Canada after 2000 are not directly comparable with earlier years. Note: Due to a in data collection methodology, s.a. and nsa data for Kitchener Waterloo and Halifax Dartmouth (and some other markets not included in the above table) have been revised back to January 2001.

11 Sales Activity over MLS Systems of Select Canadian Real Estate Boards & Associations December 2016 Sales Activity s.a. 2 nsa 3 s.a. 2 nsa 3 Fraser Valley 1,462 1, , ,418 1, , Greater Vancouver 2,682 2, ,799 2, ,624 2, ,743 2, Victoria Calgary 2,104 1, ,244 1, ,030 1, ,168 1, Edmonton 1,631 1, ,499 1, Regina Saskatoon Winnipeg 1,108 1, ,045 1, Hamilton-Burlington 1,476 1, ,241 1, Kitchener-Waterloo London and St Thomas Niagara Region Ottawa 1,393 1, ,340 1, Sudbury Thunder Bay Greater Toronto 9,666 9, ,338 4, ,787 9, ,338 4, Windsor-Essex Trois Rivières CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Montreal CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Gatineau CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Quebec CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Saguenay CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Sherbrooke CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Saint John Halifax-Dartmouth Newfoundland & Labrador Canada 46,875 45, ,242 29, ,755 42, ,865 27, Detailed data for the Toronto Real Estate Board (TREB) market area can be found at 1 Total = + Non-residential Note: Due to revisions to geographical coverage, statistics for the Kitchener-Waterloo region from 2000 forward are not directly comparable with its statistics for previous years. Note: Due to s in local market boundaries and data collection in the province of Quebec, local market and provincial totals for Quebec and Canada after 2000 are not directly comparable with earlier years. Note: Due to a in data collection methodology, s.a. and nsa data for Kitchener Waterloo and Halifax Dartmouth (and some other markets not included in the above table) have been revised back to January The interplay of local and provincial data influences in the seasonal adjustment process also necessitated revision back to January 2001 for all s.a. data for local markets in the province of Ontario. Source: The Canadian Real Estate Association

12 New Listings over MLS Systems of Select Canadian Real Estate Boards & Associations December 2016 New Listings s.a. 2 nsa 3 s.a. 2 nsa 3 Fraser Valley 2,227 2, , ,926 2, , Greater Vancouver 4,103 4, ,477 2, ,969 4, ,350 2, Victoria 1,050 1, , Calgary 3,324 3, ,446 2, ,030 3, ,272 1, Edmonton 3,367 3, ,404 1, ,954 3, ,197 1, Regina Saskatoon 1,232 1, ,176 1, Winnipeg 1,917 1, ,731 1, Hamilton-Burlington 1,905 2, ,481 1, Kitchener-Waterloo London and St Thomas 1,385 1, ,166 1, Niagara Region Ottawa 2,533 2, , ,379 2, Sudbury Thunder Bay Greater Toronto 12,716 13, ,188 4, ,712 13, ,188 4, Windsor-Essex Trois Rivières CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Montreal CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Gatineau CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Quebec CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Saguenay CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Sherbrooke CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Saint John Halifax-Dartmouth Newfoundland & Labrador 1,143 1, Canada 78,391 80, ,894 39, ,912 71, ,469 33, Detailed data for the Toronto Real Estate Board (TREB) market area can be found at 1 Total = + Non-residential Note: Due to revisions to geographical coverage, statistics for the Kitchener-Waterloo region from 2000 forward are not directly comparable with its statistics for previous years. Note: Due to s in local market boundaries and data collection in the province of Quebec, local market and provincial totals for Quebec and Canada after 2000 are not directly comparable with earlier years. Note: Due to a in data collection methodology, s.a. and nsa data for Kitchener Waterloo and Halifax Dartmouth (and some other markets not included in the above table) have been revised back to January The interplay of local and provincial data influences in the seasonal adjustment process also necessitated revision back to January 2001 for all s.a. data for local markets in the province of Ontario. Source: The Canadian Real Estate Association

13 Average Sale Price over MLS Systems of Select Canadian Real Estate Boards & Associations December 2016 Average Price* s.a. 2 nsa 3 s.a. 2 nsa 3 Fraser Valley 683, , , , , , , , Greater Vancouver 969, , , , , , , , Victoria 606, , , , , , , , Calgary 494, , , , , , , , Edmonton 363, , , , , , , , Regina 325, , , , , , , , Saskatoon 347, , , , , , , , Winnipeg 272, , , , , , , , Hamilton-Burlington 463, , , , , , , , Kitchener-Waterloo 398, , , , , , , , London and St Thomas 299, , , , , , , , Niagara Region 338, , , , , , , , Ottawa 387, , , , , , , , Sudbury 252, , , , , , , , Thunder Bay 218, , , , , , , , Greater Toronto 773, , , , , , , , Windsor-Essex 227, , , , , , , , Trois Rivières CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Montreal CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Gatineau CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Quebec CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Saguenay CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Sherbrooke CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Saint John 153, , , , , , , , Halifax-Dartmouth 275, , , , , , , , Newfoundland & Labrador 242, , , , , , , , Canada 473, , , , , , , , * Weighted residential average prices for Quebec (provided by Québec Federation of Real Estate Boards); does not affect weighted and unweighted national average price calculations. Information on Quebec's weighted average price calculation can be found at: Detailed data for the Toronto Real Estate Board (TREB) market area can be found at 1 Total = + Non-residential Note: Due to revisions to geographical coverage, statistics for the Kitchener-Waterloo region from 2000 forward are not directly comparable with its statistics for previous years. Note: Due to s in local market boundaries and data collection in the province of Quebec, local market and provincial totals for Quebec and Canada after 2000 are not directly comparable with earlier years. Note: Due to a in data collection methodology, s.a. and nsa data for Kitchener Waterloo and Halifax Dartmouth (and some other markets not included in the above table) have been revised back to January The interplay of local and provincial data influences in the seasonal adjustment process also necessitated revision back to January 2001 for all s.a. data for local markets in the province of Ontario. Source: The Canadian Real Estate Association

14 Sales as a Percentage of New Listings over MLS Systems of Select Canadian Real Estate Boards & Associations December 2016 Sales as a Percentage of New Listings* s.a. 2 nsa 3 s.a. 2 nsa 3 Fraser Valley Greater Vancouver Victoria Calgary Edmonton Regina Saskatoon Winnipeg Hamilton-Burlington Kitchener-Waterloo London and St Thomas Niagara Region Ottawa Sudbury Thunder Bay Greater Toronto Windsor-Essex Trois Rivières CMA n/a n/a n/a n/a n/a n/a n/a n/a Montreal CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Gatineau CMA n/a n/a n/a n/a n/a n/a n/a n/a Quebec CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Saguenay CMA n/a n/a n/a n/a n/a n/a n/a n/a Sherbrooke CMA n/a n/a - n/a n/a - n/a n/a - n/a n/a - Saint John Halifax-Dartmouth Newfoundland & Labrador Canada *Actual (not seasonally adjusted) data for sales-to-new listings ratios are based on a 12-month moving average Detailed data for the Toronto Real Estate Board (TREB) market area can be found at 1 Total = + Non-residential Note: Due to revisions to geographical coverage, statistics for the Kitchener-Waterloo region from 2000 forward are not directly comparable with its statistics for previous years. Note: Due to s in local market boundaries and data collection in the province of Quebec, local market and provincial totals for Quebec and Canada after 2000 are not directly comparable with earlier years. Note: Due to a in data collection methodology, s.a. and nsa data for Kitchener Waterloo and Halifax Dartmouth (and some other markets not included in the above table) have been revised back to January The interplay of local and provincial data influences in the seasonal adjustment process also necessitated revision back to January 2001 for all s.a. data for local markets in the province of Ontario. Source: The Canadian Real Estate Association

15 Dollar Volume over MLS Systems of Select Canadian Real Estate Boards & Associations 2016 Annual Dollar Volume* nsa 3 nsa 3 Fraser Valley 16, , , , Greater Vancouver 42, , , , Victoria 6, , , , Calgary 11, , , , Edmonton 7, , , , Regina 1, , , , Saskatoon 1, , , , Winnipeg 3, , , , Hamilton-Burlington 7, , , , Kitchener-Waterloo 2, , , , London and St Thomas 3, , , , Niagara Region 2, , , , Ottawa 5, , , , Sudbury Thunder Bay Greater Toronto 82, , , , Windsor-Essex 1, , , , Trois Rivières CMA n/a n/a - n/a n/a - Montreal CMA n/a n/a - n/a n/a - Gatineau CMA n/a n/a - n/a n/a - Quebec CMA n/a n/a - n/a n/a - Saguenay CMA n/a n/a - n/a n/a - Sherbrooke CMA n/a n/a - n/a n/a - Saint John Halifax-Dartmouth 1, , , , Newfoundland & Labrador 1, , , , Canada 274, , , , * in millions of dollars Detailed data for the Toronto Real Estate Board (TREB) market area can be found at 1 Total = + Non-residential Note: Due to revisions to geographical coverage, statistics for the Kitchener-Waterloo region from 2000 forward are not directly comparable with its statistics for previous years. Note: Due to s in local market boundaries and data collection in the province of Quebec, local market and provincial totals for Quebec and Canada after 2000 are not directly comparable with earlier years. Note: Due to a in data collection methodology, s.a. and nsa data for Kitchener Waterloo and Halifax Dartmouth (and some other markets not included in the above table) have been revised back to January The interplay of local and provincial data influences in the seasonal adjustment process also necessitated revision back to January 2001 for all s.a. data for local markets in the province of Ontario. Source: The Canadian Real Estate Association

16 Sales Activity over MLS Systems of Select Canadian Real Estate Boards & Associations 2016 Annual Sales Activity nsa 3 nsa 3 Fraser Valley 24,112 21, ,086 20, Greater Vancouver 41,752 43, ,880 43, Victoria 10,622 8, ,028 7, Calgary 23,689 25, ,522 23, Edmonton 19,006 20, ,990 18, Regina 3,566 3, ,481 3, Saskatoon 4,960 5, ,826 5, Winnipeg 13,632 12, ,871 12, Hamilton-Burlington 16,747 17, ,456 15, Kitchener-Waterloo 7,694 6, ,655 5, London and St Thomas 10,972 10, ,504 9, Niagara Region 8,905 7, ,202 6, Ottawa 16,203 15, ,756 14, Sudbury 2,646 2, ,352 2, Thunder Bay 2,514 2, ,273 2, Greater Toronto 113, , , , Windsor-Essex 7,575 6, ,031 6, Trois Rivières CMA n/a n/a - n/a n/a - Montreal CMA n/a n/a - n/a n/a - Gatineau CMA n/a n/a - n/a n/a - Quebec CMA n/a n/a - n/a n/a - Saguenay CMA n/a n/a - n/a n/a - Sherbrooke CMA n/a n/a - n/a n/a - Saint John 2,179 1, ,916 1, Halifax-Dartmouth 5,477 5, ,122 4, Newfoundland & Labrador 4,505 4, ,192 4, Canada 572, , , , Detailed data for the Toronto Real Estate Board (TREB) market area can be found at 1 Total = + Non-residential Note: Due to revisions to geographical coverage, statistics for the Kitchener-Waterloo region from 2000 forward are not directly comparable with its statistics for previous years. Note: Due to s in local market boundaries and data collection in the province of Quebec, local market and provincial totals for Quebec and Canada after 2000 are not directly comparable with earlier years. Note: Due to a in data collection methodology, s.a. and nsa data for Kitchener Waterloo and Halifax Dartmouth (and some other markets not included in the above table) have been revised back to January The interplay of local and provincial data influences in the seasonal adjustment process also necessitated revision back to January 2001 for all s.a. data for local markets in the province of Ontario. Source: The Canadian Real Estate Association

17 New Listings over MLS Systems of Select Canadian Real Estate Boards & Associations 2016 Annual New Listings nsa 3 nsa 3 Fraser Valley 34,764 30, ,816 27, Greater Vancouver 61,963 61, ,236 58, Victoria 13,250 13, ,986 11, Calgary 45,358 46, ,282 42, Edmonton 41,032 42, ,230 36, Regina 7,439 7, ,097 7, Saskatoon 13,754 14, ,005 13, Winnipeg 23,849 24, ,339 22, Hamilton-Burlington 21,734 23, ,295 19, Kitchener-Waterloo 10,569 11, ,006 8, London and St Thomas 17,853 19, ,344 17, Niagara Region 10,946 11, ,542 9, Ottawa 31,270 33, ,614 32, Sudbury 5,984 6, ,701 4, Thunder Bay 4,008 4, ,280 3, Greater Toronto 154, , , , Windsor-Essex 11,527 11, ,539 9, Trois Rivières CMA n/a n/a - n/a n/a - Montreal CMA n/a n/a - n/a n/a - Gatineau CMA n/a n/a - n/a n/a - Quebec CMA n/a n/a - n/a n/a - Saguenay CMA n/a n/a - n/a n/a - Sherbrooke CMA n/a n/a - n/a n/a - Saint John 5,674 5, ,289 4, Halifax-Dartmouth 11,441 12, ,741 10, Newfoundland & Labrador 13,870 13, ,211 10, Canada 976,275 1,014, , , Detailed data for the Toronto Real Estate Board (TREB) market area can be found at 1 Total = + Non-residential Note: Due to revisions to geographical coverage, statistics for the Kitchener-Waterloo region from 2000 forward are not directly comparable with its statistics for previous years. Note: Due to s in local market boundaries and data collection in the province of Quebec, local market and provincial totals for Quebec and Canada after 2000 are not directly comparable with earlier years. Note: Due to a in data collection methodology, s.a. and nsa data for Kitchener Waterloo and Halifax Dartmouth (and some other markets not included in the above table) have been revised back to January The interplay of local and provincial data influences in the seasonal adjustment process also necessitated revision back to January 2001 for all s.a. data for local markets in the province of Ontario. Source: The Canadian Real Estate Association

18 Average Sale Price over MLS Systems of Select Canadian Real Estate Boards & Associations 2016 Annual Average Price* nsa 3 nsa 3 Fraser Valley 679, , , , Greater Vancouver 1,017, , ,017, , Victoria 577, , , , Calgary 473, , , , Edmonton 375, , , , Regina 318, , , , Saskatoon 352, , , , Winnipeg 277, , , , Hamilton-Burlington 445, , , , Kitchener-Waterloo 369, , , , London and St Thomas 288, , , , Niagara Region 324, , , , Ottawa 369, , , , Sudbury 246, , , , Thunder Bay 210, , , , Greater Toronto 729, , , , Windsor-Essex 224, , , , Trois Rivières CMA n/a n/a - n/a n/a - Montreal CMA n/a n/a - n/a n/a - Gatineau CMA n/a n/a - n/a n/a - Quebec CMA n/a n/a - n/a n/a - Saguenay CMA n/a n/a - n/a n/a - Sherbrooke CMA n/a n/a - n/a n/a - Saint John 160, , , , Halifax-Dartmouth 284, , , , Newfoundland & Labrador 249, , , , Canada 479, , , , * Weighted residential average prices for Quebec (provided by Québec Federation of Real Estate Boards); does not affect weighted and unweighted national average price calculations. Information on Quebec's weighted average price calculation can be found at: Detailed data for the Toronto Real Estate Board (TREB) market area can be found at 1 Total = + Non-residential Note: Due to revisions to geographical coverage, statistics for the Kitchener-Waterloo region from 2000 forward are not directly comparable with its statistics for previous years. Note: Due to s in local market boundaries and data collection in the province of Quebec, local market and provincial totals for Quebec and Canada after 2000 are not directly comparable with earlier years. Note: Due to a in data collection methodology, s.a. and nsa data for Kitchener Waterloo and Halifax Dartmouth (and some other markets not included in the above table) have been revised back to January The interplay of local and provincial data influences in the seasonal adjustment process also necessitated revision back to January 2001 for all s.a. data for local markets in the province of Ontario. Source: The Canadian Real Estate Association

19 Sales as a Percentage of New Listings over MLS Systems of Select Canadian Real Estate Boards & Associations 2016 Annual Sales as a Percentage of New Listings nsa 3 nsa 3 Fraser Valley Greater Vancouver Victoria Calgary Edmonton Regina Saskatoon Winnipeg Hamilton-Burlington Kitchener-Waterloo London and St Thomas Niagara Region Ottawa Sudbury Thunder Bay Greater Toronto Windsor-Essex Trois Rivières CMA n/a n/a - n/a n/a - Montreal CMA n/a n/a - n/a n/a - Gatineau CMA n/a n/a - n/a n/a - Quebec CMA n/a n/a - n/a n/a - Saguenay CMA n/a n/a - n/a n/a - Sherbrooke CMA n/a n/a - n/a n/a - Saint John Halifax-Dartmouth Newfoundland & Labrador Canada Detailed data for the Toronto Real Estate Board (TREB) market area can be found at 1 Total = + Non-residential Note: Due to revisions to geographical coverage, statistics for the Kitchener-Waterloo region from 2000 forward are not directly comparable with its statistics for previous years. Note: Due to s in local market boundaries and data collection in the province of Quebec, local market and provincial totals for Quebec and Canada after 2000 are not directly comparable with earlier years. Note: Due to a in data collection methodology, s.a. and nsa data for Kitchener Waterloo and Halifax Dartmouth (and some other markets not included in the above table) have been revised back to January The interplay of local and provincial data influences in the seasonal adjustment process also necessitated revision back to January 2001 for all s.a. data for local markets in the province of Ontario. Source: The Canadian Real Estate Association

20 Dollar Volume & Sales Activity over MLS Systems of Canadian Real Estate Boards & Associations December 2016 s.a. 2 nsa 3 s.a. 2 nsa 3 Dollar Volume* British Columbia 5, , , , , , , , Alberta 2, , , , , , , Saskatchewan Manitoba Ontario 12, , , , , , , , Quebec n/a n/a - n/a n/a - n/a n/a - n/a n/a - New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada 22, , , , , , , , Sales Activity s.a. 2 nsa 3 s.a. 2 nsa 3 British Columbia 8,287 8, ,199 6, ,649 7, ,721 6, Alberta 4,997 4, ,854 2, ,707 4, ,612 2, Saskatchewan 1, , Manitoba 1,263 1, ,182 1, Ontario 21,999 21, ,284 11, ,678 20, ,307 10, Quebec n/a n/a - n/a n/a - n/a n/a - n/a n/a - New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada 46,875 45, ,242 29, ,755 42, ,865 27, * in millions of dollars 1 Total = + Non-residential Note: Due to s in local market boundaries and data collection in the province of Quebec, local market and provincial totals for Quebec and Canada after 2000 are not directly comparable with earlier years. Note: Due to a in data collection methodology, s.a. and nsa data for some local markets in Ontario and all local markets in Nova Scotia have been revised back to January 2001.

21 New Listings and Average Sale Price over MLS Systems of Canadian Real Estate Boards & Associations December 2016 s.a. 2 nsa 3 s.a. 2 nsa 3 New Listings British Columbia 12,478 13, ,880 6, ,979 11, ,985 5, Alberta 9,612 10, ,172 5, ,540 9, ,568 4, Saskatchewan 2,879 2, ,328 1, ,714 2, ,195 1, Manitoba 2,213 2, ,959 2, Ontario 31,387 32, ,749 13, ,952 28, ,819 11, Quebec n/a n/a - n/a n/a - n/a n/a - n/a n/a - New Brunswick 1,546 1, ,170 1, Nova Scotia 1,965 2, ,509 1, Prince Edward Island Newfoundland & Labrador 1,143 1, Northwest Territories Yukon Canada 78,391 80, ,894 39, ,912 71, ,469 33, Average Price* s.a. 2 nsa 3 s.a. 2 nsa 3 British Columbia 642, , , , , , , , Alberta 405, , , , , , , , Saskatchewan 299, , , , , , , , Manitoba 268, , , , , , , , Ontario 549, , , , , , , , Quebec n/a n/a - n/a n/a - n/a n/a - n/a n/a - New Brunswick 153, , , , , , , , Nova Scotia 206, , , , , , , , Prince Edward Island 173, , , , , , , , Newfoundland & Labrador 242, , , , , , , , Northwest Territories 487, , , , , , , , Yukon 330, , , , , , , , Canada 473, , , , , , , , * Provincial weighted residential average price for Quebec (provided by Québec Federation of Real Estate Boards); does not affect weighted and unweighted national average price calculations. Information on Quebec's weighted average price calculation can be found at: 1 Total = + Non-residential Note: Due to s in local market boundaries and data collection in the province of Quebec, local market and provincial totals for Quebec and Canada after 2000 are not directly comparable with earlier years. Note: Due to a in data collection methodology, s.a. and nsa data for some local markets in Ontario and all local markets in Nova Scotia have been revised back to January 2001.

22 Months of Inventory and Sales as a Percentage of New Listings over MLS Systems of Canadian Real Estate Boards & Associations December 2016 Sales as a Percentage of New Listings* s.a. 2 nsa 3 s.a. 2 nsa 3 British Columbia Alberta Saskatchewan Manitoba Ontario Quebec n/a n/a - n/a n/a - n/a n/a - n/a n/a - New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada Months of Inventory* s.a. 2 nsa 3 s.a. 2 nsa 3 British Columbia Alberta Saskatchewan Manitoba Ontario Quebec n/a n/a - n/a n/a - n/a n/a - n/a n/a - New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada *Actual (not seasonally adjusted) data for sales to new listings ratios and months of inventory are based on a 12 month moving average 1 Total = + Non-residential Note: Due to technical issues, the number of active listings in Newfoundland & Labrador at the end of December 2016 was estimated. Note: Due to s in local market boundaries and data collection in the province of Quebec, local market and provincial totals for Quebec and Canada after 2000 are not directly comparable with earlier years. Note: Due to a in data collection methodology, s.a. and nsa data for some local markets in Ontario and all local markets in Nova Scotia have been revised back to January 2001.

23 Dollar Volume & Sales Activity over MLS Systems of Canadian Real Estate Boards & Associations 2016 Annual Dollar Volume* nsa 3 nsa 3 British Columbia 81, , , , Alberta 22, , , , Saskatchewan 3, , , , Manitoba 4, , , , Ontario 134, , , , Quebec n/a n/a - n/a n/a - New Brunswick 1, , , , Nova Scotia 2, , , , Prince Edward Island Newfoundland & Labrador 1, , , , Northwest Territories Yukon Canada 274, , , , Sales Activity nsa 3 nsa 3 British Columbia 119, , , , Alberta 56,262 60, ,169 56, Saskatchewan 12,278 12, ,699 12, Manitoba 15,453 14, ,550 14, Ontario 258, , , , Quebec n/a n/a - n/a n/a - New Brunswick 8,035 7, ,170 6, Nova Scotia 11,188 10, ,876 9, Prince Edward Island 2,570 2, ,012 1, Newfoundland & Labrador 4,505 4, ,192 4, Northwest Territories Yukon Canada 572, , , , * in millions of dollars 1 Total = + Non-residential Note: Due to s in local market boundaries and data collection in the province of Quebec, local market and provincial totals for Quebec and Canada after 2000 are not directly comparable with earlier years Note: Due to a in data collection methodology, s.a. and nsa data for some local markets in Ontario and all local markets in Nova Scotia have been revised back to January The interplay of local and provincial data influences in the seasonal adjustment process also necessitated revision back to January 2001 for all s.a. data for local markets in the province of Ontario. Source: The Canadian Real Estate Association

24 New Listings and Average Sale Price over MLS Systems of Canadian Real Estate Boards & Associations 2016 Annual New Listings nsa 3 nsa 3 British Columbia 176, , , , Alberta 121, , , , Saskatchewan 31,925 33, ,310 30, Manitoba 27,772 28, ,736 25, Ontario 382, , , , Quebec n/a n/a - n/a n/a - New Brunswick 19,234 20, ,979 16, Nova Scotia 25,143 26, ,389 20, Prince Edward Island 5,456 5, ,462 3, Newfoundland & Labrador 13,870 13, ,211 10, Northwest Territories Yukon Canada 976,275 1,014, , , Average Price* nsa 3 nsa 3 British Columbia 676, , , , Alberta 401, , , , Saskatchewan 303, , , , Manitoba 271, , , , Ontario 518, , , , Quebec n/a n/a - n/a n/a - New Brunswick 155, , , , Nova Scotia 209, , , , Prince Edward Island 168, , , , Newfoundland & Labrador 249, , , , Northwest Territories 399, , , , Yukon 331, , , , Canada 479, , , , * Provincial weighted residential average price for Quebec (provided by Québec Federation of Real Estate Boards); does not affect weighted and unweighted national average price calculations. Information on Quebec's weighted average price calculation can be found at: 1 Total = + Non-residential Note: Due to s in local market boundaries and data collection in the province of Quebec, local market and provincial totals for Quebec and Canada after 2000 are not directly comparable with earlier years. Note: Due to a in data collection methodology, s.a. and nsa data for some local markets in Ontario and all local markets in Nova Scotia have been revised back to January The interplay of local and provincial data influences in the seasonal adjustment process also necessitated revision back to January 2001 for all s.a. data for local markets in the province of Ontario. Source: The Canadian Real Estate Association