2.6% Decline in Canadian Home Sales
In recent news, the Canadian Real Estate Association says that there were nearly 100,000 new listings of homes for sale in April 2010, a figure which breaks the previous record which was set two years prior, in April of 2008. More homes for sale, fewer buyers.
Canadian homes sales fell 2.6% from March to April, but are still stronger than they were this time last year. In fact, home sales are up 20% over the same period last year, according to the Canadian Real Estate Association, whose president explains that this easing trend is due to a rising trend in other markets.
But while sales may be down, the average national home price is on the rise. As compared to April of 2009, home prices rose 12.2%. These price gains were evident in major markets in Quebec, Ontario, and Alberta.
National average price comparisons are now coming more in line with changes in the national average price, due mostly to the last year’s string of downwardly skewed average price values passing, and activity settling down in B.C.’s Lower Mainland, according to the CREA.
