(Ottawa) The Canadian Real Estate Association says home sales fell in November, while the average price of a home sold increased from a year earlier.

The group says home sales in November were down 0.9% compared to the same month last year.

On a seasonally adjusted basis, home sales in November also declined by 0.9% compared to October of this year.

The number of newly listed homes decreased 1.8% month-over-month in November.

According to CREA, as new listings declined more than sales in November, the national sales-to-new listings ratio increased for the first time since April to 49.8%, compared to 49.4% in October. .

The actual national average price of a home sold in November was $646,134, up 2% from November 2022.