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Canadian homes sales and listing rise sharply in May 2020: CREA


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


According to the report, "Home sales recorded over Canadian MLS® Systems rebounded by a record 56.9% in May 2020; although, that is as a percentage of the weakest month of April on record. As such, the May gain constituted a return of only a third of the activity lost between February and April, and the May 2020 sales figure was still the lowest level for that month since the mid-1990s."


Generally speaking, since the COVID crisis began small declines in prices have been seen in British Columbia while declining trends already in place in Alberta have accelerated. Across the rest of the

Prairies, where sales have been doing comparatively much better against history than in much of the country, price trends have actually been stabilizing.


 Highlights of CREA's report

  • National home sales rose 56.9% on a month-over-month (m-o-m) basis in May.
  • That said, actual (not seasonally adjusted) activity was still down 39.8% year-over-year (y-o-y).
  • The number of newly listed properties was up 69% from April to May.
  • However, actual (not seasonally adjusted) new supply was still 38.1% below May 2019.
  • The MLS® Home Price Index (HPI) was unchanged (-0.08%) m-o-m and was still up 5.3% y-o-y.
  • The actual (not seasonally adjusted) national average sale price fell 2.6% y-o-y.

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



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Norm Fisher

Royal LePage Vidorra

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Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

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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