The Canadian Real Estate Association (CREA) recently released national sales statistics for April 2024.
Canadian home sales dipped in April 2024 when compared to March, even as the number of properties available for sale rose to kick off the spring market.
Home sales activity recorded over Canadian MLS® Systems fell 1.7% between March and April 2024, coming in a little below the average of the last 10 years.
“April 2023 was characterized by a surge of buyers re-entering a market with new listings at 20-year lows, whereas this spring thus far has been the opposite, with a healthier number of properties to choose from but less enthusiasm on the demand side,” said Shaun Cathcart, CREA’s Senior Economist.
Highlights of this report:
• National home sales declined 1.7% month-over-month in April.
• Actual (not seasonally adjusted) monthly activity came in 10.1% above April 2023.
• The number of newly listed properties rose 2.8% month-over-month.
• The MLS® Home Price Index (HPI) was unchanged month-over-month but dipped 0.9% year-over-year.
• The actual (not seasonally adjusted) national average sale price posted a 1.8% year-over-year decrease in April.
Read the recently released national sales statistics for April of 2024.
Read also: CREA’s Residential Market Forecast.
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Royal LePage Saskatoon Real Estate
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