The Canadian Real Estate Association (CREA), released national sales statistics for the month of May of 2018 today.
According to the report, "National home sales via Canadian MLS® Systems remained little changed in May 2018. Having edged 0.1% lower, it marked the lowest level for national sales activity in more than five years. Slightly more than half of all local housing markets reported fewer sales in May compared to April, led by the Okanagan region, Chilliwack and the Fraser Valley, together with the Durham region of the Greater Toronto Area (GTA) and Quebec City. Declines in activity were offset by gains in Calgary, Thunder Bay, Brantford, London and St. Thomas, Oakville-Milton and the Quinte Region west of Kingston. A small increase in GTA sales also supported the national tally."
Highlights of CREA's report
- National home sales edged down 0.1% from April to May.
- Actual (not seasonally adjusted) activity was down 16.2% from May 2017..
- The number of newly listed homes rose 5.1% from April to May.
- The MLS® Home Price Index (HPI) in May was up 1% year-over-year (y-o-y).
- The national average sale price declined by 6.4% y-o-y in May.
Read the entire report on Canadian MLS® sales for May of 2018.
CREA's updated Canadian housing forecast can also be found here.
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