Canada home sales -8.4% m/m in June
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."