The Canadian Real Estate Association (CREA), released national sales statistics for the month of May, 2014 today. According to the CREA, "Sales rose in four out of every five local housing markets in May, including almost all large urban markets. The largest gains driving the national increase were posted in Calgary, Greater Toronto and Montreal. The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations rose 5.9 per cent from April to May 2014. This marks the largest month-over-month increase in nearly four years." Highlights of CREA's report
National home sales rose 5.9% from April to May.
Actual (not seasonally adjusted) activity stood 4.8% above May 2013 levels.
The number of newly listed homes climbed 3.8% from April to May.
The Canadian housing market remains in balanced territory.
The national average sale price rose 7.1% on a year-over-year basis in May.
The MLS® Home Price Index (HPI) rose 5.0% year-over-year in May.
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