Canada home sales
  • Sales -25.7% y/y in April
  • Sales -12.6% m/m in April
  • Prices -0.6% m/n
  • Prices +23.8% y/y
  • 2.2 months of inventory

“Following a record-breaking couple of years, housing markets in many parts of Canada have cooled off pretty sharply over the last two months, in line with a jump in interest rates and buyer fatigue,” said Jill Oudil, Chair of CREA.

The air is coming out of the Canadian housing market at the moment. There's a good chance of a hard landing with the national average home price was a little over C$746,000. Locally, homes that used to sell in days are taking weeks.