Canadian Home Sales Fall in April

Statistics^[1] released today by The Canadian Real Estate Association (CREA) show national home sales fell from March to April 2018.

Highlights:

• National home sales fell 2.9% from March to April.
• Actual (not seasonally adjusted) activity was down 13.9% from April 2017.
• The number of newly listed homes declined 4.8% from March to April.
• The MLS® Home Price Index (HPI) in April was up 1.5% year-over-year (y-o-y).
• The national average sale price declined by 11.3% y-o-y in April.

National home sales via Canadian MLS® Systems declined by 2.9% in April 2018 to the lowest level in more than five years (Chart A). About 60% of all local housing markets reported fewer sales, led by the Fraser Valley, Calgary, Ottawa and Montreal.

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