0905 ET - The value of Canadian household real estate took back a little lost ground in the last quarter. Statistics Canada data shows the value of residential real estate rose 0.6% to C$8.35 trillion in 4Q, after declining 1.1% over the middle two quarters of the year following an increase in 1Q. The average resale price in 4Q was just above C$700,000, almost C$30,000 higher than in 3Q. That rise coincided with a pickup in sales activity, as the number of resales increased 9.5% on-quarter. Over the year, the value of resales was up 8.5% from 2023, largely thanks to greater sales volumes. Still, real estate as a percentage of household disposable income continued a downward trend, falling under 500% for the first time since the end of 2020. (robb.stewart@wsj.com; @RobbMStewart)
(END) Dow Jones Newswires
March 13, 2025 09:05 ET (13:05 GMT)
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