Real Estate News

Canadian Retail Sales, November 2010 Release

Date: January 21, 2010

Canadian Retail Sales, November 2010 Release

Source: Statistics Canada

Link to Release:

Summary: In November, Canadian retail sales jumped 1.3 per cent in both dollar and volume terms for the largest increase since March of 2010. While sales rose in 8 sub-sectors, the strongest increases came at motor vehicle and parts dealers, where the dollar value of sales increased by 2.7 per cent. Also notable was a 1.4 per cent increase in the dollar value of sales at gasoline stations, reflecting higher costs at the pump.

Analysis: Retail sales in Canada and Ontario continued to trend above the pre-recession peak. Improving labour market conditions and a generally positive economic outlook has prompted consumers to spend more on daily goods and services as well as large-ticket items like motor vehicles. This suggests that a growing number of households are confident in their economic situation moving forward, which bodes well for the housing market. If people are confident in their job and income prospects, they will be more willing to purchase and pay for a home over the long term, either as first-time buyers or home owners looking to change their housing situation.

Source: Toronto Real Estate Board