The Canadian Real Estate Association

News Release Canadian home sales up from November to December Ottawa, ON, January 16, 2017

According to statistics1 released today by The Canadian Real Estate Association (CREA), national home sales were up on a month-over-month basis in December 2016.

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% year-over-year (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 2016. The rebound recovered less than half of the drop in activity from October to November, when it posted the biggest monthly 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 All figures in this release except price measures are seasonally adjusted unless otherwise noted. Removing normal seasonal variations enables meaningful analysis of monthly changes and fundamental trends.

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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.

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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, KitchenerWaterloo, 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 2016. 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.

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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 2015. 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 changes 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.

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Table 1

MLS® Home Price Index Benchmark Price Composite HPI:

December 2016

Percentage Change vs. 1 month ago

3 months ago

6 months ago

12 months ago

3 years ago

5 years ago

Aggregate

$582,000

0.10

1.02

3.06

14.22

29.11

38.25

Lower Mainland

$803,900

-1.05

-2.66

-1.00

20.07

48.46

48.66

Greater Vancouver

$897,600

-1.18

-3.13

-2.21

17.80

48.48

48.58

Fraser Valley

$628,800

-0.71

-1.36

2.18

27.04

48.97

50.25

Vancouver Island

$372,300

0.44

2.52

7.07

17.27

27.56

23.35

Victoria

$550,800

0.78

2.49

6.73

20.84

33.31

25.63

Calgary

$431,700

-0.20

-1.15

-1.25

-3.66

2.49

16.04

Regina

$292,500

0.15

-0.91

-1.80

5.20

-2.81

6.14

Saskatoon

$299,700

-0.62

-2.26

-2.98

-1.58

-2.35

6.19

Greater Toronto

$694,900

0.84

3.78

7.30

21.05

43.75

59.12

Ottawa

$341,400

0.07

0.20

1.06

4.02

5.31

7.15

Greater Montreal

$312,700

0.18

0.56

0.80

3.30

5.44

11.35

Greater Moncton

$161,800

-1.02

-0.37

0.74

1.87

6.57

8.61

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 http://www.crea.ca/housing-market-stats/mls-home-price-index/hpi-tool/. Data table available to media upon request, for purposes of reprinting only.

- 30 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 http://crea.ca/statistics. For more information, please contact: Pierre Leduc, Media Relations The Canadian Real Estate Association Tel.: 613-237-7111 or 613-884-1460 E-mail: [email protected]

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.

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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.

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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

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

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

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.

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Dollar Volume over MLS® Systems of Select Canadian Real Estate Boards & Associations December 2016 Total1

Residential

s.a.2

Dollar Volume* Dec 2016

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 Montreal CMA Gatineau CMA Quebec CMA Saguenay CMA Sherbrooke CMA Saint John Halifax-Dartmouth Newfoundland & Labrador Canada *

1,015.2 2,644.7 466.9 1,051.5 613.8 101.1 146.4 306.5 693.2 247.4 279.5 279.4 545.3 63.6 44.8 7,585.6 162.4 n/a n/a n/a n/a n/a n/a 26.6 121.9 78.7 22,840.8

Nov 2016

970.5 2,516.0 479.3 863.0 541.9 102.0 137.5 305.9 676.7 263.5 289.0 282.8 499.2 56.1 45.9 7,616.5 146.2 n/a n/a n/a n/a n/a n/a 26.9 118.8 97.6 22,268.4

nsa3 monthly percentage change

4.6 5.1 -2.6 21.8 13.3 -0.9 6.5 0.2 2.4 -6.1 -3.3 -1.2 9.2 13.3 -2.3 -0.4 11.1 -1.1 2.6 -19.4 2.6

Dec 2016

635.9 1,697.9 281.4 620.0 318.8 53.2 84.4 168.0 372.2 142.1 165.7 161.0 288.9 34.8 22.1 3,899.3 93.0 n/a n/a n/a n/a n/a n/a 16.0 69.2 70.5 13,037.1

Dec 2015

969.0 2,905.1 291.6 569.1 332.5 41.7 95.8 159.6 307.3 122.1 163.4 97.7 260.9 26.3 22.7 3,012.0 79.2 n/a n/a n/a n/a n/a n/a 15.0 67.8 93.0 13,146.8

s.a.2 year-over-year percentage change

-34.4 -41.6 -3.5 9.0 -4.1 27.7 -11.9 5.2 21.1 16.4 1.4 64.8 10.7 32.1 -2.6 29.5 17.4 6.4 2.1 -24.2 -0.8

Dec 2016

935.1 2,593.4 442.7 975.6 542.4 99.1 139.1 295.8 648.2 229.8 255.6 246.7 538.0 57.1 43.6 7,590.9 145.4 n/a n/a n/a n/a n/a n/a 26.9 116.1 75.6 21,787.7

Nov 2016

941.2 2,475.0 471.4 788.2 493.0 95.3 120.0 291.3 649.0 243.9 262.2 250.0 488.0 45.5 44.3 7,592.6 134.0 n/a n/a n/a n/a n/a n/a 25.6 111.9 92.0 21,421.5

nsa3 monthly percentage change

-0.7 4.8 -6.1 23.8 10.0 4.0 15.9 1.5 -0.1 -5.8 -2.5 -1.3 10.2 25.5 -1.4 0.0 8.5 5.0 3.7 -17.9 1.7

Dec 2016

Dec 2015

568.0 1,652.8 250.5 560.9 281.6 49.3 79.5 160.8 331.6 124.6 147.7 134.5 282.0 31.3 20.9 3,899.3 83.2 n/a n/a n/a n/a n/a n/a 14.6 64.4 67.9 12,173.7

in millions of dollars Detailed data for the Toronto Real Estate Board (TREB) market area can be found at http://www.torontorealestateboard.com/market_news/market_watch/index.htm

†

1

Total = Residential + Non-residential Seasonally adjusted 3 Not seasonally adjusted 2

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 changes 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 change 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.

913.5 2,849.7 249.2 500.5 290.7 40.4 90.2 153.6 284.2 104.8 148.2 90.7 254.7 24.4 18.6 3,012.0 68.8 n/a n/a n/a n/a n/a n/a 13.1 63.5 89.2 12,378.4

year-over-year percentage change

-37.8 -42.0 0.5 12.1 -3.1 22.1 -11.9 4.7 16.7 18.9 -0.3 48.3 10.7 28.0 12.3 29.5 21.0 11.0 1.4 -23.9 -1.7

Sales Activity over MLS® Systems of Select Canadian Real Estate Boards & Associations December 2016 Total1

Residential

s.a.2

Sales Activity Dec 2016

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 Montreal CMA Gatineau CMA Quebec CMA Saguenay CMA Sherbrooke CMA Saint John Halifax-Dartmouth Newfoundland & Labrador Canada

1,462 2,682 782 2,104 1,631 315 428 1,108 1,476 595 905 796 1,393 248 198 9,666 673 n/a n/a n/a n/a n/a n/a 176 426 315 46,875

Nov 2016

1,480 2,630 762 1,791 1,397 316 358 1,073 1,410 663 927 777 1,295 206 211 9,631 600 n/a n/a n/a n/a n/a n/a 172 419 379 45,543

nsa3 monthly percentage change

-1.2 2.0 2.6 17.5 16.8 -0.3 19.6 3.3 4.7 -10.3 -2.4 2.4 7.6 20.4 -6.2 0.4 12.2 2.3 1.7 -16.9 2.9

Dec 2016

966 1,799 471 1,244 894 166 245 617 852 350 552 475 768 144 108 5,338 417 n/a n/a n/a n/a n/a n/a 104 258 292 28,242

Dec 2015

1,543 2,980 465 1,189 898 143 271 642 803 349 593 361 743 119 124 4,945 385 n/a n/a n/a n/a n/a n/a 95 246 373 29,366

s.a.2 year-over-year percentage change

-37.4 -39.6 1.3 4.6 -0.4 16.1 -9.6 -3.9 6.1 0.3 -6.9 31.6 3.4 21.0 -12.9 7.9 8.3 9.5 4.9 -21.7 -3.8

Dec 2016

1,418 2,624 735 2,030 1,499 304 414 1,045 1,241 524 864 735 1,340 213 186 9,787 632 n/a n/a n/a n/a n/a n/a 157 401 293 43,755

Nov 2016

1,427 2,561 726 1,705 1,282 308 362 1,014 1,226 588 893 709 1,266 173 195 9,687 572 n/a n/a n/a n/a n/a n/a 154 391 349 42,819

nsa3 monthly percentage change

-0.6 2.5 1.2 19.1 16.9 -1.3 14.4 3.1 1.2 -10.9 -3.2 3.7 5.8 23.1 -4.6 1.0 10.5 1.9 2.6 -16.0 2.2

Dec 2016

Dec 2015

907 1,743 428 1,168 795 158 235 575 688 294 519 423 726 124 100 5,338 382 n/a n/a n/a n/a n/a n/a 92 235 270 25,865

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Detailed data for the Toronto Real Estate Board (TREB) market area can be found at http://www.torontorealestateboard.com/market_news/market_watch/index.htm

1

Total = Residential + Non-residential Seasonally adjusted 3 Not seasonally adjusted 2

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 changes 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 change 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. 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

1,450 2,905 443 1,109 809 140 258 598 680 293 556 331 708 108 103 4,945 345 n/a n/a n/a n/a n/a n/a 86 225 334 27,221

year-over-year percentage change

-37.4 -40.0 -3.4 5.3 -1.7 12.9 -8.9 -3.8 1.2 0.3 -6.7 27.8 2.5 14.8 -2.9 7.9 10.7 7.0 4.4 -19.2 -5.0

New Listings over MLS® Systems of Select Canadian Real Estate Boards & Associations December 2016 Total1

Residential

s.a.2

New Listings Dec 2016

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 Montreal CMA Gatineau CMA Quebec CMA Saguenay CMA Sherbrooke CMA Saint John Halifax-Dartmouth Newfoundland & Labrador Canada

2,227 4,103 1,050 3,324 3,367 680 1,232 1,917 1,905 948 1,385 966 2,533 429 287 12,716 879 n/a n/a n/a n/a n/a n/a 462 922 1,143 78,391

Nov 2016

2,572 4,744 1,122 3,817 3,532 678 1,257 1,962 2,055 879 1,335 968 2,335 462 338 13,684 927 n/a n/a n/a n/a n/a n/a 532 983 1,213 80,834

nsa3 monthly percentage change

-13.4 -13.5 -6.4 -12.9 -4.7 0.3 -2.0 -2.3 -7.3 7.8 3.7 -0.2 8.5 -7.1 -15.1 -7.1 -5.2 -13.2 -6.2 -5.8 -3.0

Dec 2016

829 1,477 392 1,446 1,404 312 571 718 781 386 612 467 918 202 110 4,188 432 n/a n/a n/a n/a n/a n/a 189 336 488 33,894

Dec 2015

1,294 2,221 451 2,128 1,638 286 613 784 810 393 768 473 1,089 308 189 4,783 525 n/a n/a n/a n/a n/a n/a 204 372 470 39,458

s.a.2 year-over-year percentage change

-35.9 -33.5 -13.1 -32.0 -14.3 9.1 -6.9 -8.4 -3.6 -1.8 -20.3 -1.3 -15.7 -34.4 -41.8 -12.4 -17.7 -7.4 -9.7 3.8 -14.1

Dec 2016

1,926 3,969 960 3,030 2,954 654 1,176 1,731 1,481 710 1,166 874 2,379 344 271 12,712 754 n/a n/a n/a n/a n/a n/a 331 768 983 68,912

Nov 2016

2,258 4,488 1,006 3,454 3,007 632 1,194 1,744 1,595 657 1,106 836 2,207 379 286 13,683 792 n/a n/a n/a n/a n/a n/a 404 836 957 71,059

nsa3 monthly percentage change

-14.7 -11.6 -4.6 -12.3 -1.8 3.5 -1.5 -0.7 -7.1 8.1 5.4 4.5 7.8 -9.2 -5.2 -7.1 -4.8 -18.1 -8.1 2.7 -3.0

Dec 2016

Dec 2015

698 1,350 345 1,272 1,197 298 521 629 512 251 471 379 846 153 93 4,188 335 n/a n/a n/a n/a n/a n/a 128 275 398 28,469

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Detailed data for the Toronto Real Estate Board (TREB) market area can be found at http://www.torontorealestateboard.com/market_news/market_watch/index.htm

1

Total = Residential + Non-residential Seasonally adjusted 3 Not seasonally adjusted 2

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 changes 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 change 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. 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

1,132 2,073 390 1,907 1,419 265 576 686 545 263 608 390 998 197 101 4,783 352 n/a n/a n/a n/a n/a n/a 157 315 373 33,394

year-over-year percentage change

-38.3 -34.9 -11.5 -33.3 -15.6 12.5 -9.5 -8.3 -6.1 -4.6 -22.5 -2.8 -15.2 -22.3 -7.9 -12.4 -4.8 -18.5 -12.7 6.7 -14.7

Average Sale Price over MLS® Systems of Select Canadian Real Estate Boards & Associations December 2016 Total1

Residential

s.a.2

Average Price* Dec 2016

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 Montreal CMA Gatineau CMA Quebec CMA Saguenay CMA Sherbrooke CMA Saint John Halifax-Dartmouth Newfoundland & Labrador Canada

683,574 969,373 606,624 494,669 363,540 325,213 347,349 272,091 463,263 398,241 299,714 338,920 387,726 252,139 218,765 773,505 227,834 n/a n/a n/a n/a n/a n/a 153,721 275,447 242,142 473,259

Nov 2016

645,095 942,378 650,074 487,886 373,189 322,756 378,827 283,515 469,761 402,499 312,742 349,885 379,059 260,687 212,984 781,630 231,929 n/a n/a n/a n/a n/a n/a 165,330 280,003 254,868 484,245

nsa3 monthly percentage change

6.0 2.9 -6.7 1.4 -2.6 0.8 -8.3 -4.0 -1.4 -1.1 -4.2 -3.1 2.3 -3.3 2.7 -1.0 -1.8 -7.0 -1.6 -5.0 -2.3

Dec 2016

658,313 943,805 597,425 498,428 356,646 320,587 344,451 272,271 436,856 405,963 300,140 338,962 376,116 241,718 204,589 730,472 223,061 n/a n/a n/a n/a n/a n/a 153,721 268,211 241,535 461,623

Dec 2015

627,980 974,864 627,080 478,644 370,241 291,357 353,410 248,617 382,715 349,842 275,483 270,591 351,157 221,406 182,934 609,110 205,742 n/a n/a n/a n/a n/a n/a 158,221 275,625 249,300 447,688

s.a.2 year-over-year percentage change

4.8 -3.2 -4.7 4.1 -3.7 10.0 -2.5 9.5 14.1 16.0 9.0 25.3 7.1 9.2 11.8 19.9 8.4 -2.8 -2.7 -3.1 3.1

Dec 2016

642,233 972,529 581,915 482,863 363,928 323,411 339,993 284,680 515,001 425,548 288,748 325,100 398,557 260,292 229,469 773,251 223,154 n/a n/a n/a n/a n/a n/a 158,439 279,093 250,210 486,388

Nov 2016

635,013 946,896 645,085 472,858 371,631 312,570 335,701 285,669 519,447 415,976 290,559 341,191 382,217 260,067 224,753 781,827 228,470 n/a n/a n/a n/a n/a n/a 168,865 288,576 264,285 495,840

nsa3 monthly percentage change

1.1 2.7 -9.8 2.1 -2.1 3.5 1.3 -0.3 -0.9 2.3 -0.6 -4.7 4.3 0.1 2.1 -1.1 -2.3 -6.2 -3.3 -5.3 -1.9

Dec 2016

Dec 2015

626,188 948,246 585,267 480,188 354,161 311,909 338,147 279,651 481,997 423,901 284,502 317,881 388,411 252,323 209,221 730,472 217,926 n/a n/a n/a n/a n/a n/a 158,439 274,142 251,461 470,661

* 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: http://www.fciq.ca/pdf/Carrefour/definitions/en/prix_moyen_pondere_a.pdf † Detailed data for the Toronto Real Estate Board (TREB) market area can be found at http://www.torontorealestateboard.com/market_news/market_watch/index.htm 1

Total = Residential + Non-residential Seasonally adjusted 3 Not seasonally adjusted 2

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 changes 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 change 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. 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

629,978 980,974 562,581 451,297 359,333 288,223 349,788 256,900 417,894 357,737 266,499 273,869 359,777 226,282 180,896 609,110 199,480 n/a n/a n/a n/a n/a n/a 152,762 282,273 267,093 454,738

year-over-year percentage change

-0.6 -3.3 4.0 6.4 -1.4 8.2 -3.3 8.9 15.3 18.5 6.8 16.1 8.0 11.5 15.7 19.9 9.2 3.7 -2.9 -5.9 3.5

Sales as a Percentage of New Listings over MLS® Systems of Select Canadian Real Estate Boards & Associations December 2016 Total1

Residential

s.a.2

Sales as a Percentage of New Listings*

Dec 2016

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 Montreal CMA Gatineau CMA Quebec CMA Saguenay CMA Sherbrooke CMA Saint John Halifax-Dartmouth Newfoundland & Labrador Canada

65.6 65.4 74.5 63.3 48.4 46.3 34.7 57.8 77.5 62.8 65.3 82.4 55.0 57.8 69.0 76.0 76.6 n/a n/a n/a n/a n/a n/a 38.1 46.2 27.6 59.8

nsa3

Nov 2016

57.5 55.4 67.9 46.9 39.6 46.6 28.5 54.7 68.6 75.4 69.4 80.3 55.5 44.6 62.4 70.4 64.7 n/a n/a n/a n/a n/a n/a 32.3 42.6 31.2 56.3

monthly change

8.1 10.0 6.6 16.4 8.8 ‐0.3 6.2 3.1 8.9 ‐12.6 -4.1 2.1 -0.5 13.2 6.6 5.6 11.9 ‐ ‐ ‐ 5.8 3.6 -3.6 3.5

Dec 2016

69.4 67.4 80.2 52.2 46.3 47.9 36.1 57.2 77.1 72.8 61.5 81.4 51.8 44.2 62.7 73.4 65.7 n/a n/a n/a n/a n/a n/a 38.4 47.9 32.5 58.7

Dec 2015

68.3 71.4 63.3 53.6 47.9 43.3 36.7 52.5 73.0 57.9 51.2 64.4 44.9 41.9 58.9 63.1 59.8 n/a n/a n/a n/a n/a n/a 34.5 43.0 34.4 52.9

s.a.2 year-over-year change

1.1 ‐4.0 16.9 ‐1.4 -1.6 4.6 -0.6 4.7 4.1 14.9 10.3 17.0 6.9 2.3 3.8 10.3 5.9 ‐ ‐ ‐ 3.9 4.9 -1.9 5.8

Dec 2016

nsa3

Nov 2016

73.6 66.1 76.6 67.0 50.7 46.5 35.2 60.4 83.8 73.8 74.1 84.1 56.3 61.9 68.6 77.0 83.8 n/a n/a n/a n/a n/a n/a 47.4 52.2 29.8 63.5

63.2 57.1 72.2 49.4 42.6 48.7 30.3 58.1 76.9 89.5 80.7 84.8 57.4 45.6 68.2 70.8 72.2 n/a n/a n/a n/a n/a n/a 38.1 46.8 36.5 60.3

monthly change

10.4 9.0 4.4 17.6 8.1 ‐2.2 4.9 2.3 6.9 ‐15.7 -6.6 ‐0.7 -1.1 16.3 0.4 6.2 11.6 ‐ ‐ ‐ 9.3 5.4 -6.7 3.2

Dec 2016

Dec 2015

72.6 69.0 83.7 54.6 48.2 49.0 37.1 60.3 83.6 83.1 68.5 86.0 53.2 50.0 69.3 73.4 73.7 n/a n/a n/a n/a n/a n/a 44.7 52.6 37.4 62.3

*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 http://www.torontorealestateboard.com/market_news/market_watch/index.htm 1

Total = Residential + Non-residential Seasonally adjusted 3 Not seasonally adjusted 2

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 changes 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 change 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. 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

72.0 73.3 66.6 56.2 50.5 44.2 37.7 55.3 77.8 64.4 56.4 70.1 46.3 48.2 65.2 63.1 67.8 n/a n/a n/a n/a n/a n/a 39.1 46.6 39.1 56.3

year-over-year change

0.6 ‐4.3 17.1 ‐1.6 -2.3 4.8 -0.6 5.0 5.8 18.7 12.1 15.9 6.9 1.8 4.1 10.3 5.9 ‐ ‐ ‐ 5.6 6.0 -1.7 6.0

Dollar Volume over MLS® Systems of Select Canadian Real Estate Boards & Associations 2016 Annual Total1

Residential

nsa3

nsa3

Dollar Volume* 2016

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 Montreal CMA Gatineau CMA Quebec CMA Saguenay CMA Sherbrooke CMA Saint John Halifax-Dartmouth Newfoundland & Labrador Canada *

16,389.5 42,486.1 6,133.8 11,221.7 7,140.8 1,136.2 1,748.7 3,784.1 7,464.9 2,840.8 3,163.8 2,886.1 5,982.4 652.3 528.9 82,972.8 1,701.1 n/a n/a n/a n/a n/a n/a 349.2 1,557.1 1,123.3 274,590.7

2015

12,187.2 39,631.2 4,290.7 11,741.1 7,703.1 1,073.3 1,831.0 3,507.8 7,007.9 2,219.6 2,726.4 1,965.4 5,552.9 611.9 532.6 63,352.9 1,372.3 n/a n/a n/a n/a n/a n/a 302.6 1,441.2 1,223.9 233,084.0

percentage change

34.5 7.2 43.0 -4.4 -7.3 5.9 -4.5 7.9 6.5 28.0 16.0 46.8 7.7 6.6 -0.7 31.0 24.0 15.4 8.0 -8.2 17.8

2016

15,628.0 41,584.3 5,873.9 10,428.8 6,275.5 1,092.7 1,634.7 3,663.2 7,091.5 2,576.1 2,937.3 2,611.7 5,886.5 593.8 497.5 82,972.8 1,556.9 n/a n/a n/a n/a n/a n/a 322.3 1,466.7 1,079.8 262,963.0

2015

11,581.9 38,951.4 4,104.1 10,888.8 6,735.5 1,032.0 1,787.3 3,413.5 6,707.7 1,970.0 2,552.3 1,831.0 5,483.8 557.3 497.1 63,352.9 1,243.3 n/a n/a n/a n/a n/a n/a 274.6 1,368.7 1,171.5 223,415.1

percentage change

34.9 6.8 43.1 -4.2 -6.8 5.9 -8.5 7.3 5.7 30.8 15.1 42.6 7.3 6.6 0.1 31.0 25.2 17.4 7.2 -7.8 17.7

in millions of dollars Detailed data for the Toronto Real Estate Board (TREB) market area can be found at http://www.torontorealestateboard.com/market_news/market_watch/index.htm

†

1

Total = Residential + Non-residential Seasonally adjusted 3 Not seasonally adjusted 2

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 changes 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 change 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. 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

Sales Activity over MLS® Systems of Select Canadian Real Estate Boards & Associations 2016 Annual Total1 nsa

Sales Activity 2016

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 Montreal CMA Gatineau CMA Quebec CMA Saguenay CMA Sherbrooke CMA Saint John Halifax-Dartmouth Newfoundland & Labrador Canada

24,112 41,752 10,622 23,689 19,006 3,566 4,960 13,632 16,747 7,694 10,972 8,905 16,203 2,646 2,514 113,725 7,575 n/a n/a n/a n/a n/a n/a 2,179 5,477 4,505 572,737

Residential

3

2015

21,164 43,955 8,295 25,161 20,386 3,369 5,352 12,927 17,343 6,417 10,034 7,217 15,232 2,566 2,582 101,846 6,797 n/a n/a n/a n/a n/a n/a 1,918 5,170 4,617 536,520

nsa percentage change

13.9 -5.0 28.1 -5.9 -6.8 5.8 -7.3 5.5 -3.4 19.9 9.3 23.4 6.4 3.1 -2.6 11.7 11.4 13.6 5.9 -2.4 6.8

2016

23,086 40,880 10,028 22,522 16,990 3,481 4,826 12,871 14,456 6,655 10,504 8,202 15,756 2,352 2,273 113,725 7,031 n/a n/a n/a n/a n/a n/a 1,916 5,122 4,192 536,118

3

2015

20,055 43,145 7,868 23,994 18,227 3,297 5,215 12,267 15,244 5,660 9,618 6,746 14,842 2,300 2,302 101,846 6,322 n/a n/a n/a n/a n/a n/a 1,679 4,843 4,251 504,197

percentage change

15.1 -5.2 27.5 -6.1 -6.8 5.6 -7.5 4.9 -5.2 17.6 9.2 21.6 6.2 2.3 -1.3 11.7 11.2 14.1 5.8 -1.4 6.3

†

Detailed data for the Toronto Real Estate Board (TREB) market area can be found at http://www.torontorealestateboard.com/market_news/market_watch/index.htm

1

Total = Residential + Non-residential Seasonally adjusted 3 Not seasonally adjusted 2

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 changes 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 change 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. 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

New Listings over MLS® Systems of Select Canadian Real Estate Boards & Associations 2016 Annual Total1

Residential

nsa3

nsa3

New Listings 2016

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 Montreal CMA Gatineau CMA Quebec CMA Saguenay CMA Sherbrooke CMA Saint John Halifax-Dartmouth Newfoundland & Labrador Canada

34,764 61,963 13,250 45,358 41,032 7,439 13,754 23,849 21,734 10,569 17,853 10,946 31,270 5,984 4,008 154,885 11,527 n/a n/a n/a n/a n/a n/a 5,674 11,441 13,870 976,275

2015

30,998 61,523 13,099 46,948 42,533 7,776 14,566 24,603 23,773 11,090 19,586 11,203 33,926 6,117 4,386 161,325 11,362 n/a n/a n/a n/a n/a n/a 5,557 12,031 13,413 1,014,134

percentage change

12.1 0.7 1.2 -3.4 -3.5 -4.3 -5.6 -3.1 -8.6 -4.7 -8.8 -2.3 -7.8 -2.2 -8.6 -4.0 1.5 2.1 -4.9 3.4 -3.7

2016

31,816 59,236 11,986 41,282 35,230 7,097 13,005 21,339 17,295 8,006 15,344 9,542 29,614 4,701 3,280 154,885 9,539 n/a n/a n/a n/a n/a n/a 4,289 9,741 11,211 860,946

2015

27,864 58,875 11,814 42,700 36,107 7,457 13,832 22,173 19,590 8,795 17,040 9,617 32,052 4,768 3,528 161,325 9,326 n/a n/a n/a n/a n/a n/a 4,298 10,403 10,883 895,750

percentage change

14.2 0.6 1.5 -3.3 -2.4 -4.8 -6.0 -3.8 -11.7 -9.0 -10.0 -0.8 -7.6 -1.4 -7.0 -4.0 2.3 -0.2 -6.4 3.0 -3.9

†

Detailed data for the Toronto Real Estate Board (TREB) market area can be found at http://www.torontorealestateboard.com/market_news/market_watch/index.htm

1

Total = Residential + Non-residential Seasonally adjusted 3 Not seasonally adjusted 2

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 changes 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 change 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. 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

Average Sale Price over MLS® Systems of Select Canadian Real Estate Boards & Associations 2016 Annual Total1 nsa

Average Price* 2016

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 Montreal CMA Gatineau CMA Quebec CMA Saguenay CMA Sherbrooke CMA Saint John Halifax-Dartmouth Newfoundland & Labrador Canada

679,722 1,017,581 577,462 473,708 375,713 318,630 352,552 277,587 445,744 369,222 288,356 324,096 369,218 246,506 210,362 729,591 224,563 n/a n/a n/a n/a n/a n/a 160,268 284,296 249,354 479,436

Residential

3

2015

575,847 901,631 517,259 466,638 377,862 318,577 342,112 271,356 404,075 345,891 271,717 272,323 364,557 238,459 206,271 622,046 201,895 n/a n/a n/a n/a n/a n/a 157,791 278,753 265,091 434,437

nsa percentage change

18.0 12.9 11.6 1.5 -0.6 0.0 3.1 2.3 10.3 6.7 6.1 19.0 1.3 3.4 2.0 17.3 11.2 1.6 2.0 -5.9 10.4

2016

676,946 1,017,228 585,745 463,047 369,365 313,903 338,738 284,610 490,560 387,087 279,634 318,417 373,604 252,484 218,881 729,591 221,432 n/a n/a n/a n/a n/a n/a 168,221 286,344 257,589 490,495

3

2015

577,507 902,801 521,616 453,814 369,536 313,015 342,727 278,270 440,025 348,065 265,370 271,425 369,477 242,303 215,922 622,046 196,664 n/a n/a n/a n/a n/a n/a 163,572 282,613 275,579 443,111

percentage change

17.2 12.7 12.3 2.0 0.0 0.3 -1.2 2.3 11.5 11.2 5.4 17.3 1.1 4.2 1.4 17.3 12.6 2.8 1.3 -6.5 10.7

* 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: http://www.fciq.ca/pdf/Carrefour/definitions/en/prix_moyen_pondere_a.pdf † Detailed data for the Toronto Real Estate Board (TREB) market area can be found at http://www.torontorealestateboard.com/market_news/market_watch/index.htm 1

Total = Residential + Non-residential Seasonally adjusted 3 Not seasonally adjusted 2

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 changes 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 change 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. 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

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

2016

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 Montreal CMA Gatineau CMA Quebec CMA Saguenay CMA Sherbrooke CMA Saint John Halifax-Dartmouth Newfoundland & Labrador Canada

Total1

Residential

nsa3

nsa3

2015

69.4 67.4 80.2 52.2 46.3 47.9 36.1 57.2 77.1 72.8 61.5 81.4 51.8 44.2 62.7 73.4 65.7 n/a n/a n/a n/a n/a n/a 38.4 47.9 32.5 58.7

change

68.3 71.4 63.3 53.6 47.9 43.3 36.7 52.5 73.0 57.9 51.2 64.4 44.9 41.9 58.9 63.1 59.8 n/a n/a n/a n/a n/a n/a 34.5 43.0 34.4 52.9

1.1 -4.0 16.9 -1.4 -1.6 4.6 -0.6 4.7 4.1 14.9 10.3 17.0 6.9 2.3 3.8 10.3 5.9 3.9 4.9 -1.9 5.8

2016

2015

72.6 69.0 83.7 54.6 48.2 49.0 37.1 60.3 83.6 83.1 68.5 86.0 53.2 50.0 69.3 73.4 73.7 n/a n/a n/a n/a n/a n/a 44.7 52.6 37.4 62.3

change

72.0 73.3 66.6 56.2 50.5 44.2 37.7 55.3 77.8 64.4 56.4 70.1 46.3 48.2 65.2 63.1 67.8 n/a n/a n/a n/a n/a n/a 39.1 46.6 39.1 56.3

0.6 -4.3 17.1 -1.6 -2.3 4.8 -0.6 5.0 5.8 18.7 12.1 15.9 6.9 1.8 4.1 10.3 5.9 5.6 6.0 -1.7 6.0

†

Detailed data for the Toronto Real Estate Board (TREB) market area can be found at http://www.torontorealestateboard.com/market_news/market_watch/index.htm

1

Total = Residential + Non-residential Seasonally adjusted 3 Not seasonally adjusted 2

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 changes 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 change 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. 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

Dollar Volume & Sales Activity over MLS® Systems of Canadian Real Estate Boards & Associations December 2016 Total1

Residential

2

3

s.a.

Dollar Volume* Dec 2016

British Columbia Alberta Saskatchewan Manitoba Ontario Quebec New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada

5,388.1 2,052.4 315.2 343.4 12,208.8 n/a 110.1 180.4 27.1 78.7 12.2 9.5 22,840.8

Nov 2016

5,218.6 1,744.9 306.9 349.1 12,207.2 n/a 111.2 185.9 33.4 97.6 6.0 7.2 22,268.4

2

nsa monthly percentage change

Dec 2016

3.2 17.6 2.7 -1.6 0.0 -1.0 -3.0 -18.9 -19.4 104.5 33.1 2.6

3,342.3 1,155.8 178.6 186.6 6,341.5 n/a 65.0 103.8 17.7 70.5 7.3 5.8 13,037.1

Dec 2015

4,843.1 1,114.3 182.5 178.5 5,095.9 n/a 61.4 102.9 20.9 93.0 3.7 4.0 13,146.8

year-over-year percentage change

-31.0 3.7 -2.1 4.5 24.4 5.9 0.9 -15.3 -24.2 99.4 42.6 -0.8

Dec 2016

5,094.4 1,866.6 298.4 330.4 11,854.4 n/a 106.6 167.3 22.7 75.6 13.1 9.2 21,787.7

Nov 2016

5,057.9 1,597.8 275.6 330.9 11,855.1 n/a 106.4 171.5 28.8 92.0 6.0 6.8 21,421.5

Total1 nsa3

s.a.

Dec 2016

British Columbia Alberta Saskatchewan Manitoba Ontario Quebec New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada *

8,287 4,997 1,067 1,263 21,999 n/a 707 869 172 315 30 28 46,875

Nov 2016

8,176 4,260 962 1,225 21,674 n/a 713 889 217 379 15 24 45,543

monthly percentage change

1.4 17.3 10.9 3.1 1.5 -0.8 -2.2 -20.7 -16.9 100.0 16.7 2.9

nsa monthly percentage change

0.7 16.8 8.3 -0.2 0.0 0.2 -2.5 -21.3 -17.9 117.6 35.5 1.7

Dec 2016

3,090.8 1,033.6 162.1 177.7 6,060.2 n/a 59.8 93.2 13.8 67.9 6.3 5.7 12,173.7

Dec 2015

4,619.2 986.2 164.0 171.4 4,859.5 n/a 57.5 93.5 17.2 89.2 2.6 3.7 12,378.4

year-over-year percentage change

-33.1 4.8 -1.2 3.6 24.7 4.0 -0.3 -19.7 -23.9 141.1 52.1 -1.7

Residential

2

Sales Activity

3

s.a.

Dec 2016

5,199 2,854 601 707 12,284 n/a 433 527 102 292 15 17 28,242

Dec 2015

6,999 2,750 612 735 11,657 n/a 413 524 122 373 9 12 29,366

s.a.2 year-over-year percentage change

-25.7 3.8 -1.8 -3.8 5.4 4.8 0.6 -16.4 -21.7 66.7 41.7 -3.8

Dec 2016

7,649 4,707 1,017 1,182 20,678 n/a 630 751 134 293 30 27 43,755

Nov 2016

7,626 4,011 936 1,155 20,518 n/a 654 775 169 349 17 23 42,819

nsa3 monthly percentage change

0.3 17.4 8.7 2.3 0.8 -3.7 -3.1 -20.7 -16.0 76.5 17.4 2.2

Dec 2016

4,721 2,612 559 650 11,307 n/a 375 437 74 270 14 16 25,865

Dec 2015

6,590 2,532 563 684 10,783 n/a 373 453 98 334 8 11 27,221

in millions of dollars

1

Total = Residential + Non-residential Seasonally adjusted 3 Not seasonally adjusted 2

Note: Due to changes 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 change 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.

year-over-year percentage change

-28.4 3.2 -0.7 -5.0 4.9 0.5 -3.5 -24.5 -19.2 75.0 45.5 -5.0

New Listings and Average Sale Price over MLS® Systems of Canadian Real Estate Boards & Associations December 2016 Total1

Residential

2

nsa3

s.a.

New Listings Dec 2016

British Columbia Alberta Saskatchewan Manitoba Ontario Quebec New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada

12,478 9,612 2,879 2,213 31,387 n/a 1,546 1,965 428 1,143 37 36 78,391

Nov 2016

13,750 10,394 2,872 2,334 32,204 n/a 1,647 2,101 434 1,213 35 34 80,834

monthly percentage change

Dec 2016

-9.3 -7.5 0.2 -5.2 -2.5 -6.1 -6.5 -1.4 -5.8 5.7 5.9 -3.0

4,880 4,172 1,328 838 11,749 n/a 685 779 165 488 12 14 33,894

Dec 2015

6,573 5,259 1,335 937 13,564 n/a 815 856 178 470 6 19 39,458

s.a.2 year-over-year percentage change

-25.8 -20.7 -0.5 -10.6 -13.4 -16.0 -9.0 -7.3 3.8 100.0 -26.3 -14.1

Dec 2016

10,979 8,540 2,714 1,959 27,952 n/a 1,170 1,509 288 983 33 34 68,912

Nov 2016

11,992 9,054 2,626 2,035 28,728 n/a 1,304 1,609 292 957 34 31 71,059

Total1 nsa3

s.a.

Dec 2016

British Columbia Alberta Saskatchewan Manitoba Ontario Quebec New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada

642,652 405,679 299,170 268,472 549,504 n/a 153,237 206,179 173,570 242,142 487,986 330,169 473,259

Nov 2016

629,937 404,508 317,946 284,429 555,470 n/a 154,598 209,217 148,209 254,868 423,222 308,203 484,245

monthly percentage change

2.0 0.3 -5.9 -5.6 -1.1 -0.9 -1.5 17.1 -5.0 15.3 7.1 -2.3

monthly percentage change

Dec 2016

-8.4 -5.7 3.4 -3.7 -2.7 -10.3 -6.2 -1.4 2.7 -2.9 9.7 -3.0

Dec 2015

3,985 3,568 1,195 720 9,819 n/a 497 577 101 398 12 13 28,469

5,518 4,558 1,189 821 11,204 n/a 624 682 104 373 6 17 33,394

year-over-year percentage change

-27.8 -21.7 0.5 -12.3 -12.4 -20.4 -15.4 -2.9 6.7 100.0 -23.5 -14.7

Residential

2

Average Price*

nsa3

Dec 2016

642,870 404,987 297,249 263,862 516,239 n/a 150,214 196,904 173,570 241,535 487,986 338,871 461,623

Dec 2015

691,967 405,218 298,196 242,856 437,150 n/a 148,739 196,359 171,252 249,300 407,962 336,743 447,688

s.a.2 year-over-year percentage change

-7.1 -0.1 -0.3 8.6 18.1 1.0 0.3 1.4 -3.1 19.6 0.6 3.1

Dec 2016

656,980 402,234 296,672 278,302 568,398 n/a 164,363 222,451 186,573 250,210 451,414 353,536 486,388

Nov 2016

645,090 397,675 297,269 283,139 575,398 n/a 161,737 222,746 170,441 264,285 423,222 302,180 495,840

nsa3 monthly percentage change

Dec 2016

1.8 1.1 -0.2 -1.7 -1.2 1.6 -0.1 9.5 -5.3 6.7 17.0 -1.9

Dec 2015

654,699 395,694 289,944 273,327 535,969 n/a 159,478 213,313 186,573 251,461 451,414 355,550 470,661

* 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: http://www.fciq.ca/pdf/Carrefour/definitions/en/prix_moyen_pondere_a.pdf 1

Total = Residential + Non-residential Seasonally adjusted 3 Not seasonally adjusted 2

Note: Due to changes 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 change 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.

700,943 389,486 291,313 250,636 450,664 n/a 154,176 206,481 175,457 267,093 327,707 340,083 454,738

year-over-year percentage change

-6.6 1.6 -0.5 9.1 18.9 3.4 3.3 6.3 -5.9 37.7 4.5 3.5

Months of Inventory and Sales as a Percentage of New Listings over MLS® Systems of Canadian Real Estate Boards & Associations December 2016 Total1

Residential

2

Sales as a Percentage of New Listings* British Columbia Alberta Saskatchewan Manitoba Ontario Quebec New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada

3

s.a.

Dec 2016

Nov 2016

66.4 52.0 37.1 57.1 70.1 n/a 45.7 44.2 40.2 27.6 81.1 77.8 59.8

2

nsa

59.5 41.0 33.5 52.5 67.3 n/a 43.3 42.3 50.0 31.2 42.9 70.6 56.3

monthly change

6.9 11.0 3.6 4.6 2.8 2.4 1.9 -9.8 -3.6 38.2 7.2 3.5

Dec 2016

67.9 46.3 38.5 55.6 67.6 n/a 41.8 44.5 47.1 32.5 62.0 70.3 58.7

Dec 2015

year-over-year change

62.9 48.7 38.7 51.4 57.7 n/a 36.6 39.7 36.9 34.4 67.4 52.8 52.9

5.0 -2.4 -0.2 4.2 9.9 5.2 4.8 10.2 -1.9 -5.4 17.5 5.8

Dec 2016

69.7 55.1 37.5 60.3 74.0 n/a 53.8 49.8 46.5 29.8 90.9 79.4 63.5

Nov 2016

63.6 44.3 35.6 56.8 71.4 n/a 50.2 48.2 57.9 36.5 50.0 74.2 60.3

Total1 nsa3

s.a.

Months of Inventory*

British Columbia Alberta Saskatchewan Manitoba Ontario Quebec New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada

3.3 5.4 8.4 3.6 1.7 n/a 8.5 9.6 8.7 10.8 4.4 5.2 4.3

Nov 2016

3.5 6.4 9.2 3.7 1.8 n/a 8.4 9.2 6.7 9.1 8.4 6.0 4.5

monthly change

-0.2 -1.0 -0.8 -0.1 -0.1 0.1 0.4 2.0 1.7 -4.0 -0.8 -0.2

nsa

monthly change

Dec 2016

6.1 10.8 1.9 3.5 2.6 3.6 1.6 -11.4 -6.7 40.9 5.2 3.2

Dec 2015

71.7 48.8 39.9 58.8 71.2 n/a 47.9 50.9 58.1 37.4 63.3 75.8 62.3

67.4 51.5 40.1 54.4 60.9 n/a 41.6 44.7 44.5 39.1 67.5 56.3 56.3

Dec 2016

4.3 7.4 10.0 4.6 3.0 n/a 14.7 14.8 16.4 14.1 5.9 7.3 6.0

Dec 2015

s.a.2 year-over-year change

6.0 6.3 9.4 5.2 4.1 n/a 16.8 17.0 22.0 13.1 5.3 10.1 7.1

-1.7 1.0 0.6 -0.5 -1.2 -2.1 -2.3 -5.6 1.0 0.6 -2.9 -1.1

Dec 2016

3.6 5.7 8.8 3.8 1.8 n/a 9.5 11.1 11.2 11.6 4.4 5.4 4.6

Nov 2016

3.8 6.8 9.5 3.9 1.9 n/a 9.2 10.6 8.6 9.9 7.4 6.3 4.8

monthly change

-0.2 -1.1 -0.7 -0.1 -0.1 0.3 0.5 2.6 1.7 -3.0 -0.9 -0.2

Dec 2016

Dec 2015

3.2 6.1 9.0 3.8 2.2 n/a 10.7 10.5 9.7 9.8 5.6 5.7 4.8

Total = Residential + Non-residential Seasonally adjusted 3 Not seasonally adjusted Note: Due to technical issues, the number of active listings in Newfoundland & Labrador at the end of December 2016 was estimated. Note: Due to changes 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 change 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. 2

4.3 -2.7 -0.2 4.4 10.3 6.3 6.2 13.6 -1.7 -4.2 19.5 6.0

nsa3

*Actual (not seasonally adjusted) data for sales‐to‐new listings ratios and months of inventory are based on a 12‐month moving average 1

year-over-year change

Residential

2

Dec 2016

3

s.a.

4.6 5.2 8.4 4.3 3.3 n/a 12.4 12.4 14.1 9.5 4.9 8.3 5.7

year-over-year change

-1.4 1.0 0.5 -0.4 -1.1 -1.7 -1.8 -4.4 0.3 0.7 -2.6 -1.0

Dollar Volume & Sales Activity over MLS® Systems of Canadian Real Estate Boards & Associations 2016 Annual Total1

Residential

nsa3

nsa3

Dollar Volume* 2016

British Columbia Alberta Saskatchewan Manitoba Ontario Quebec New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada

81,139.4 22,601.1 3,725.0 4,195.2 134,042.9 n/a 1,249.7 2,344.5 432.3 1,123.3 101.5 121.1 274,590.7

2015

67,754.7 24,410.4 3,865.6 3,911.9 106,528.3 n/a 1,145.0 2,164.2 315.1 1,223.9 87.5 104.6 233,084.0

British Columbia Alberta Saskatchewan Manitoba Ontario Quebec New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada *

119,957 56,262 12,278 15,453 258,629 n/a 8,035 11,188 2,570 4,505 254 365 572,737

19.8 -7.4 -3.6 7.2 25.8 9.1 8.3 37.2 -8.2 16.0 15.8 17.8

2016

77,552.6 20,584.6 3,456.5 4,037.5 130,445.7 n/a 1,174.4 2,180.0 362.7 1,079.8 100.2 120.0 262,963.0

2015

65,265.1 22,203.3 3,642.7 3,790.9 103,647.0 n/a 1,071.8 2,025.4 266.7 1,171.5 77.6 103.3 223,415.1

Total1

Residential

nsa3

nsa3

Sales Activity 2016

percentage change

2015

108,600 60,792 12,864 14,818 235,717 n/a 7,457 10,360 2,063 4,617 201 309 536,520

percentage change

10.5 -7.5 -4.6 4.3 9.7 7.8 8.0 24.6 -2.4 26.4 18.1 6.8

2016

112,209 52,169 11,699 14,550 243,400 n/a 7,170 9,876 2,012 4,192 252 358 536,118

2015

102,517 56,477 12,245 14,021 222,499 n/a 6,682 9,226 1,655 4,251 199 302 504,197

percentage change

18.8 -7.3 -5.1 6.5 25.9 9.6 7.6 36.0 -7.8 29.1 16.1 17.7

percentage change

9.5 -7.6 -4.5 3.8 9.4 7.3 7.0 21.6 -1.4 26.6 18.5 6.3

in millions of dollars

1

Total = Residential + Non-residential Seasonally adjusted 3 Not seasonally adjusted 2

Note: Due to changes 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 change 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.                  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

New Listings and Average Sale Price over MLS® Systems of Canadian Real Estate Boards & Associations 2016 Annual Total1

Residential

nsa3

nsa3

New Listings 2016

British Columbia Alberta Saskatchewan Manitoba Ontario Quebec New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada

176,785 121,581 31,925 27,772 382,676 n/a 19,234 25,143 5,456 13,870 410 519 976,275

2015

172,771 124,851 33,246 28,837 408,385 n/a 20,369 26,105 5,591 13,413 298 585 1,014,134

British Columbia Alberta Saskatchewan Manitoba Ontario Quebec New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada

676,404 401,711 303,392 271,481 518,282 n/a 155,527 209,557 168,221 249,354 399,531 331,725 479,436

2.3 -2.6 -4.0 -3.7 -6.3 -5.6 -3.7 -2.4 3.4 37.6 -11.3 -3.7

2016

156,431 106,988 29,310 24,736 341,943 n/a 14,979 19,389 3,462 11,211 398 472 860,946

2015

152,067 109,587 30,544 25,763 365,636 n/a 16,059 20,659 3,718 10,883 295 536 895,750

Total1

Residential

nsa3

nsa3

Average Price* 2016

percentage change

2015

623,893 401,540 300,501 263,996 451,933 n/a 153,549 208,899 152,733 265,091 435,090 338,359 434,437

percentage change

8.4 0.0 1.0 2.8 14.7 1.3 0.3 10.1 -5.9 -8.2 -2.0 10.4

2016

691,144 394,576 295,455 277,493 535,931 n/a 163,793 220,737 180,263 257,589 397,630 335,155 490,495

2015

636,627 393,138 297,487 270,375 465,831 n/a 160,400 219,535 161,175 275,579 389,965 342,142 443,111

percentage change

2.9 -2.4 -4.0 -4.0 -6.5 -6.7 -6.1 -6.9 3.0 34.9 -11.9 -3.9

percentage change

8.6 0.4 -0.7 2.6 15.0 2.1 0.5 11.8 -6.5 2.0 -2.0 10.7

* 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: http://www.fciq.ca/pdf/Carrefour/definitions/en/prix_moyen_pondere_a.pdf 1

Total = Residential + Non-residential

2

Seasonally adjusted

3

Not seasonally adjusted

Note: Due to changes 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 change 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.                  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

Months of Inventory and Sales as a Percentage of New Listings over MLS® Systems of Canadian Real Estate Boards & Associations 2016 Annual

Sales as a Percentage of New Listings

2016

British Columbia Alberta Saskatchewan Manitoba Ontario Quebec New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada

Total1

Residential

nsa3

nsa3

2015

67.9 46.3 38.5 55.6 67.6 n/a 41.8 44.5 47.1 32.5 62.0 70.3 58.7

change

62.9 48.7 38.7 51.4 57.7 n/a 36.6 39.7 36.9 34.4 67.4 52.8 52.9

2016

5.0 -2.4 -0.2 4.2 9.9 5.2 4.8 10.2 -1.9 -5.4 17.5 5.8

2015

71.7 48.8 39.9 58.8 71.2 n/a 47.9 50.9 58.1 37.4 63.3 75.8 62.3

change

67.4 51.5 40.1 54.4 60.9 n/a 41.6 44.7 44.5 39.1 67.5 56.3 56.3

Total1

Residential

nsa3

nsa3

4.3 -2.7 -0.2 4.4 10.3 6.3 6.2 13.6 -1.7 -4.2 19.5 6.0

Months of Inventory 2016

British Columbia Alberta Saskatchewan Manitoba Ontario Quebec New Brunswick Nova Scotia Prince Edward Island Newfoundland & Labrador Northwest Territories Yukon Canada 1

2015

4.3 7.4 10.0 4.6 3.0 n/a 14.7 14.8 16.4 14.1 5.9 7.3 6.0

change

6.0 6.3 9.4 5.2 4.1 n/a 16.8 17.0 22.0 13.1 5.3 10.1 7.1

-1.7 1.1 0.6 -0.6 -1.1 -2.1 -2.2 -5.6 1.0 0.6 -2.8 -1.1

2016

2015

3.2 6.1 9.0 3.8 2.2 n/a 10.7 10.5 9.7 9.8 5.6 5.7 4.8

change

4.6 5.2 8.4 4.3 3.3 n/a 12.4 12.4 14.1 9.5 4.9 8.3 5.7

-1.4 0.9 0.6 -0.5 -1.1 -1.7 -1.9 -4.4 0.3 0.7 -2.6 -0.9

Total = Residential + Non-residential Seasonally adjusted 3 Not seasonally adjusted Note: Due to technical issues, the number of active listings in Newfoundland & Labrador at the end of December 2016 was estimated. Note: Due to changes 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 change 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.                  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 2