The Canadian Real Estate Association (CREA) recently released national sales statistics for May of 2021.
According to the report, "Home sales recorded over Canadian MLS® Systems fell by 7.4% month-over-month in May 2021, building on the 11 percent decline recorded in April. Activity nonetheless remains historically high, but in contrast to March’s all-time record it is now running closer to levels seen in the second half of 2020."
"Month-over-month declines in sales activity were observed in close to 80 percent of all local markets. It was a mixed bag of results, with a slowdown in sales observed in most large markets across Canada."
Highlights of CREA's report
National home sales declined by 7.4% on a month-over-month basis in May.
The actual (not seasonally adjusted) activity was up 103.6% year-over-year.
The number of newly listed properties fell back by 6.4% from April to May.
The MLS® Home Price Index (MLS® HPI) rose 1% month-over-month and was up 24.4% year-over-year.
The actual (not seasonally adjusted) national average sale price posted a 38.4% year-over-year gain in May.
Read the entire report on Canadian MLS® sales for May of 2021.
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