Housing market as tariff uncertainty weighs on sales

Uncertainty around tariffs and a potential trade war with the United States were the likely culprits behind home sales falling off during the last week of January, according to the Canadian Real Estate Association (CREA). That weakness pushed national sales down 3.3 per cent compared to December, CREA said in its latest housing report.

At the same time, newly listed properties jumped 11 per cent month-over-month in January — uncommon for the typically slow winter season — reflecting “the largest seasonally adjusted monthly increase in new supply on record going back to the late 1980s,” the report said, aside from swings during the COVID-19 pandemic.

READ MORE: https://financialpost.com/real-estate/canada-home-sales-decline-tariff-uncertainty