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Canadian home sales and listings post record decline in April, 2020: CREA


The Canadian Real Estate Association (CREA) recently released national sales statistics for April of 2020.


According to the report, "Home sales recorded over Canadian MLS® Systems dropped by a record 56.8% in April 2020 compared to an already weakened March, with a majority of sellers and buyers having seemingly moved off to the sidelines during the COVID-19 lockdown."


Like so many other parts of normal daily life, a lot of buying and selling activity in housing markets across Canada has been put on pause,” said Shaun Cathcart, CREA’s Senior Economist. “That said, preliminary data for May suggest things may have already started to pick up a bit for both sales and new listings, in line with  evidence that new and existing virtual technology tools have been adopted by REALTORS® and their clients. These tools have allowed quite a bit of essential business to safely continue, and will likely remain key for some time.”


 Highlights of CREA's report

  • National home sales fell 56.8% on a month-over-month (m-o-m) basis in April.
  • The actual (not seasonally adjusted) activity was down a similar 57.6% year-over-year (y-o-y).
  •  The number of newly listed properties decreased 55.7% from March to April.
  • The MLS® Home Price Index (HPI) edged back 0.6% m-o-m but was still up 6.4% y-o-y.
  •  The actual (not seasonally adjusted) national average sale price fell 1.3% y-o-y.

Read the entire report on Canadian MLS® sales for April of 2020.



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Norm Fisher

Royal LePage Vidorra

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Norm Fisher, TeamFisher

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

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