Canada home sales -8.4% m/m in June

Author: Adam Button | Category: News

Pace of sales slows from May

Pace of sales slows from May
  • Sales up 13.6% y/y in June
  • Prices up 0.9% in June m/m
  • Prices up 24.4% y/y
  • New listings +0.7% m/m
  • 2.3 months of inventory vs 2.1m prior (and 1.8m in March)
Month-over-month declines in sales activity were broad-based, with sales moderating in around 80% of all local markets.

"While there is still a lot of activity in many housing markets across Canada, things have noticeably calmed down in the last few months," said Cliff Stevenson, Chair of CREA. "There remains a shortage of supply in many parts of the country, but at least there isn't the same level of competition among buyers we were seeing a few months ago."

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