CREA economist Gregory Klump reports on MLS® sales and listings for the Canadian real estate market for April, 2012.
Highlights from CREA's release
- Home sales up 0.8% from March to April.
- Actual (not seasonally adjusted) activity stood 11.5% above levels in April 2011.
- The size of the year-over-year increase reflects a slowdown in sales last April following changes to mortgage rules which came into effect on March 18, 2011.
- The number of newly listed homes edged back 0.2% from March to April.
- While still well balanced, the combination of stable new listings and slightly higher sales activity resulted in a tighter national housing market.
- The national average home price edged up 0.9% on a year-over-year basis in April.
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