NEWS

Canadian home sales drop in May following April’s record

Ottawa, ON, June 15, 2016 - According to statistics released yesterday by The Canadian Real Estate Association (CREA), national home sales dropped in May 2016 after having set an all-time monthly record in April.

Highlights:

• National home sales dropped 2.8 per cent from April to May.
• Actual (not seasonally adjusted) activity was up 9.6 per cent compared to May 2015.
• The number of newly listed homes fell 3.2 per cent from April to May.
• The MLS® Home Price Index (HPI) rose 12.5 per cent year-over-year in May.
• The national average sale price climbed 13.2 per cent in May from one year ago; net of Greater Toronto and Greater Vancouver, it advanced 9.1 per cent year-over-year.

The number of homes trading hands via Canadian MLS® Systems fell by 2.8 per cent month-over-month in May 2016 after having broken all previous monthly sales records in April.

To read the full release, click here.