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A for sale sign in front of a home in Montreal
Home sales in Montreal fell by an almost record amount in November causing the city's backlog of for-sale listings to balloon by 58 per cent. Photo by Christinne Muschi /Bloomberg

Transactions declined to one of the lowest levels since data tracking began in 2000 as Montreal real estate prices held strong in November.

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On a year-over-year basis, median prices across the three property categories tracked were mostly flat.

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Median prices and sales were not changed in the month.

As a result of the historic decline in year-over-year transactions, the city is experiencing a backlog of active listings.

  1. Stephen Smith, co-founder and executive chair of First National Financial LP, at his company’s Toronto offices. He says a healthy labour market and the mortgage stress test should stave off real estate disaster.
  2. An open house sign on the corner of a street in Vancouver.
  3. A real estate 'for sale' sign outside a home in Calgary.

The director of market analysis at QPAREB said in the report that the number of new listings in November is down again, indicating that potential sellers are not rushing to sell their properties.

Quebec's total sales were down 31 per cent while active listings were up 40 per cent and median prices were unchanged.

  1. Anybody looking at the MLS Composite Home Price Index can confidently say Canada’s infamous housing bubble has finally popped. The peak was reached back in March and home prices have fallen in each of the subsequent seven months.
  2. A sign points the way to the Bank of Canada in Ottawa.
  3. Prime Minister Justin Trudeau playing with children at the daycare in Carrefour de l'Isle-Saint-Jean school in Charlottetown, Prince Edward Island.
  4. Office buildings in downtown Toronto.
  5. Prime Minister Justin Trudeau speaks at the Ingersoll plant making Brightdrop electric vans.