Canadian Home Sales Showing Signs of Stabilization in June of 2023: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for June of 2023.

"Home sales recorded over Canadian MLS® Systems posted a 1.5% increase between May and June 2023, a smaller increase than in April and May.

“Housing markets appear to be stabilizing heading into the summer following some big ups and downs over the last year,” said Larry Cerqua, Chair of CREA. “Most importantly, the recovery in new listings over the last few months will give buyers more choices and should help to slow price growth over the second half of the year. If you’re looking for information and guidance about how to buy or sell a property in what’s looking like a more balanced market this summer and fall, contact a REALTOR® in your area,” continued Cerqua.

Highlights of this report:

•              National home sales edged up 1.5% month-over-month in June.

•              Actual (not seasonally adjusted) monthly activity came in 4.7% above June 2022.

•              The number of newly listed properties rose 5.9% month-over-month.

•              The MLS® Home Price Index (HPI) climbed 2% month-over-month but was still down 4.5% year-over-year.

•              The actual (not seasonally adjusted) national average sale price posted a 6.7% year-over-year increase in June.

Read the recently released national sales statistics for June of 2023.

Read also: CREA’s updated Housing Market Forecast for 2023.

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