Home sales dropped in May compared to a year ago: Canada Real Estate Association

The Canadian Real Estate Association says the number of homes sold in May fell compared with a year ago as the average price also moved lower.

 

The association says the number of homes sold in May fell 5.9 per cent compared with the same month last year.

 

Sales in Greater Vancouver in May were down 19.8 per cent compared with a year ago, while Greater Toronto saw a drop of 22.2 per cent. Sales in Edmonton were up 19.7 per compared with May 2023.

The moves came as the national average sale price for May amounted to $699,117, down four per cent compared with a year earlier.

 

On a seasonally adjusted month-over-month basis, CREA says home sales in May were down 0.6 per cent compared with April.

 

The number of newly listed properties was up 0.5 per cent month-over-month.

 

 

 

This article was first reported by The Canadian Press