Canadian Home Sales Set Record in April

According to statistics released by The Canadian Real Estate Association (CREA) on Monday, May 16th, national home sales during the month of April rose to their highest level ever.

CREA President Cliff Iverson stated that national home sales set new monthly records over the past two months, even as activity in Greater Vancouver and the Greater Toronto Area appears to have topped out.

He also stated that with almost three-quarters of all local markets posting sales gains in April, there are plenty of other places where sales are climbing as we head into the busiest time of the year for homebuyers.

According to the Canadian Real Estate Association, the number of home sold in Canada last month hit a record as supply tightened, particularly in the Toronto area.

In the Toronto area, there was a fiercely competitive market diverting some homeowners from putting their properties up for sale.

According to CREA, there were 57,669 homes sold throughout the country over the Multiple Listing Service during the month of April. This number represents a 10.3 per cent increase from April 2015.

Highlights:

*National home sales rose by 3.1% from March to April.

*Actual (not seasonally adjusted) activity was up 10.3% compared to April 2015.

*The number of newly listed homes was little changed (-0.2%) from March to April.

*The MLS® Home Price Index (HPI) rose 10.3% year-over-year in April.

*The national average sale price climbed 13.1% in April from one year ago; net of the Greater Toronto Area and Greater Vancouver, it was up by 8.7% year-over-year.

Reference:

http://www.crea.ca/…/canadian-home-sales-set-record-in-apr…/

http://globalnews.ca/…/home-sales-in-canada-pass-another-r…/