May 2017 CREA statistics and updated forecast

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.

Highlights:

• 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.

CREA housing forecast June 2017

CREA monthly statistics and MLS HPI May 2017

Author: bramptonrealestateboard

At the Brampton Real Estate Board (BREB) we believe in the ownership of Real Estate. Our objective is to contribute to the capability and growth of our members in their endeavors by marketing all forms of real property throughout the greater Brampton, Halton Hills and Caledon marketplaces and beyond. The Brampton Real Estate Board is dedicated to providing an environment in which it’s Member REALTORS®, employees, Board of Directors, and Committee volunteers are encouraged to grow, succeed and develop in order to provide the highest level of professional conduct and service. View all posts by bramptonrealestateboard