The Canadian Real Estate Association (CREA) recently released national sales statistics for June 2024.
Activity in Canada’s housing market saw some early signs of renewed life in June 2024, following the Bank of Canada’s interest rate cut at the beginning of the month.
“It wasn’t a ‘blow the doors off’ month by any means, but Canada’s housing numbers did perk up a bit on a month-over-month basis in June following the first Bank of Canada rate cut,” said Shaun Cathcart, CREA’s Senior Economist. “Year-over-year comparisons don’t look great mainly because of how many buyers were still jumping into the market last spring, but that’s a story about last year. What’s happening right now is that sales were up from May to June, market conditions tightened for the first time this year, and prices nationally ticked higher for the first time in 11 months.”
Highlights of this report:
• National home sales climbed 3.7% month-over-month in June.
• Actual (not seasonally adjusted) monthly activity came in 9.4% below June 2023.
• The number of newly listed properties rose 1.5% month-over-month.
• The MLS® Home Price Index (HPI) edged up 0.1% month-over-month but was down 3.4% year-over-year.
• The actual (not seasonally adjusted) national average sale price posted a 1.6% year-over-year decrease in June. Read the recently released national sales statistics for June of 2024.
UPDATED - Read also: CREA’s Residential Market Forecast.
I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com
Norm Fisher
Royal LePage Saskatoon Real Estate
Comments:
Post Your Comment: