Canada home sales down by nine per cent

Canada home sales down by nine per cent
22/07/2016 , by , in INTERNATIONAL

The home sales fell 0.9 per cent from May to June in Canada while prices were up 11.2 per cent year on year, according to the latest index data.

It means that monthly falls in sales activity has left transactions down 2.6 per cent below the record set in April 2016, the home index from the Canadian Real Estate Association of Canada (CREA) also shows. There is also a considerable price difference depending on the location. For example if Greater Toronto and Greater Vancouver are left out of the equation prices are up 8.4 per cent year on year.

Sales activity was down from the previous month in about half of all markets in June, with declines in Greater Vancouver, the Fraser Valley and Greater Toronto having eclipsed gains in comparatively less active housing markets. ‘While national sales activity remains strong, there are still significant differences in housing market trends across Canada,’ said Cliff Iverson, President, CREA.

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