Canadian home sales edge lower in June

Posted: July 17, 2012 in Buyers, Sellers
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Ottawa, ON, July 16, 2012 – According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity edged lower on a month-over-month basis in June 2012. Price gains remained strong in Toronto, continued slowing in Greater Vancouver, and accelerated in Calgary.

 

Highlights:

•       Home sales down 1.3% from May to June.

•       Actual (not seasonally adjusted) activity stood 4.4% below levels in June 2011, marking the first year-over-year decline since April 2011.

•       The number of newly listed homes climbed 1.4% from May to June.

•       Fewer sales and a rise in new listings resulted in a more balanced national housing market.

•       The national average home price slipped 0.8% on a year-over-year basis in June.

•       The Aggregate Composite Benchmark home price was up 5.12% year-over-year in June.

 

Sales over Multiple Listing Service® (MLS®) Systems in Canada eased 1.3 per cent on a month-over-month basis in June 2012. This follows a 3.4 per cent decline posted in May. National activity was down from the previous month in slightly more than half of all local markets, with Greater Toronto and Vancouver contributing most to the small decline.

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