Canadian home sales fall 2.6 per cent in April as market cools down
Filed Under Main Content · Tagged: Adjusted Basis, Ahead, Bank Of Montreal, Canada, Canadian Real Estate, Canter, Decline, Deputy Chief Economist, Douglas Porter, Full Gallop, Housing Market, Labour Market, Market Economists, Month Of April, Quot, Real Estate Association, Rebound, Residential Sales, Vancouver Sun
Vancouver Sun- The Canadian housing market is cooling, but the decline will be moderate, thanks to the rebound in the labour market, economists say.
Canadian home sales fell 2.6 per cent in April from the previous month, with residential sales totaling 52,042 units last month, 6.8 per cent below the peak reached in December 2009, the Canadian Real Estate Association said Monday.
Listings, meanwhile, rose to 99,901 homes newly being put up for sale, a record for the month of April that suggests balance is returning to what had been a sellers’ market.
On a seasonally adjusted basis, the months of housing inventory available rose to 5.3 months, the highest level since last May.
"Canada’s housing market has gone from full gallop to stately canter and is poised to slow to a leisurely trot in the months ahead," said Bank of Montreal deputy chief economist Douglas Porter…
Canadian home sales fall 2.6 per cent in April as market cools down
