The Canadian Real Estate Association (CREA), released national sales statistics for June of 2018 today.
According to the report, "National home sales via Canadian MLS® Systems rose 4.1% in June 2018 compared to May. While this marks the first substantive month-over-month increase this year, sales remain well down from monthly levels recorded over the past five years."
“This year’s new stress-test on mortgage applicants has been weighing on homes sales activity; however, the increase in June suggests its impact may be starting to lift,” said CREA President Barb Sukkau. “The extent to which the stress-test continues to sideline home buyers varies by housing market and price range. All real estate is local, and REALTORS® remain your best source for information about sales and listings where you live or might like to in the future,” said Sukkau.
Highlights of CREA's report
- National home sales rose 4.1% from May to June.
- Actual (not seasonally adjusted) activity was down 10.7% from June 2017.
- The number of newly listed homes eased 1.8% from May to June.
- The MLS® Home Price Index (HPI) in June was up 0.9% year-over-year (y-o-y).
- The national average sale price edged down 1.3% y-o-y in June.
Read the entire report on Canadian MLS® sales for June of 2018.
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