Home sales drop in April as mortgage rates shoot higher
Ottawa, ON, May 16, 2022 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were down in April 2022.
- National home sales dropped by 12.6% on a month-over-month basis in April.
- Actual (not seasonally adjusted) monthly activity came in 25.7% below the monthly record set in 2021.
- The number of newly listed properties was down 2.2% month-over-month.
- The MLS® Home Price Index (HPI) edged down 0.6% month-over-month but was still up 23.8% year-over-year.
- The actual (not seasonally adjusted) national average sale price posted a 7.4% year-over-year gain in April.
Home sales recorded over Canadian MLS® Systems dropped by 12.6% between March and April 2022. The decline placed monthly activity at the lowest level since the summer of 2020.
Access the April 2022 stats PDF.