The Canadian Real Estate Association (CREA), recently released national sales statistics for June of 2019.
According to the report, "Home sales recorded via Canadian MLS® Systems were little changed in June 2019 following a string of monthly gains recorded in March, April, and May. Although running close to its 10-year average and up nearly 10% from the six-year low reached in February 2019, activity remains well below levels recorded over much of 2015, 2016 and 2017."
“There’s a growing divergence in Canadian housing market trends between eastern and western Canada,” said Gregory Klump, CREA’s Chief Economist. “While sales activity in Canada’s three westernmost provinces appears to have stopped deteriorating, it will be some time before supply and demand there becomes better balanced and the outlook for home prices improves.”
Highlights of CREA's report
- National home sales edged back 0.2% month-over-month (m-o-m) in June.
- Actual (not seasonally adjusted) activity ticked up 0.3% year-over-year (y-o-y).
- The number of newly listed homes rose 0.8% m-o-m.
- The MLS® Home Price Index (HPI) climbed 0.3% m-o-m in June but was down 0.3% y-o-y.
- The actual (not seasonally adjusted) national average sale price was up 1.7% y-o-y.
Read the entire report on Canadian MLS® sales for June 2019.
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