Canadian home sales drop sharply in May
Ottawa, ON, June 15, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales posted a sizeable decline in May 2017.
- National home sales dropped 6.2% from April to May.
- Actual (not seasonally adjusted) activity in May stood 1.6% below last May’s level.
- The number of newly listed homes edged up 0.3% from April to May.
- The MLS® Home Price Index (HPI) was up 17.9% year-over-year (y-o-y) in May 2017.
- The national average sale price advanced by 4.3% y-o-y in May.
The number of homes sold via Canadian MLS® Systems fell by 6.2% in May 2017 compared to April. The month-over-month (m-o-m) percentage decline was the largest since August 2012.
CREA Updates Resale Housing Market Forecast
Ottawa, ON, June 15, 2017 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations in 2017 and 2018.
Housing market trends continue to diverge considerably among regions along four general themes: British Columbia, the Greater Golden Horseshoe, oil and natural resource dependent provinces, and everywhere else.