May home sales up compared with April, but still well below year-ago level
OTTAWA -- The Canadian Real Estate Association says home sales in May regained some of the ground they lost when they hit a record low in April, but remained down sharply compared with a year ago.
The association says national home sales for May were down 39.8 per cent compared with the same month last year, even after rising 56.9 per cent from the previous month.
CREA says May was the weakest showing for the month since 1996.
The sales came as the number of newly listed homes rose by a record 69 per cent in May compared with April.
The national average price for homes sold in May was $494,500, down 2.6 per cent from the same month last year.
Excluding the Greater Vancouver and the Greater Toronto Area, two of Canada's most active and expensive housing markets, the average price was about $401,000.
The Canadian Press
- Brampton father celebrating big lotto win
- House of the Week: $1.6 Mil House with Insta-Worthy Backyard
- All COVID-19 cases in Brampton schools for the week of September 21 to 26
- Ontario reports 435 new COVID-19 cases, no new deaths
- Peel District schools in Brampton with reported cases of COVID-19 – September 25
- CREA reports Canadian home sales climb again, set record for August
- Home Sales are Plummeting in Brampton
- GTA home sales up in March but trending down as COVID-19 pandemic hits
- New home sales rise in Greater Toronto Area after 2018 drop, says Altus Group
- Q2 condo sales down 50 per cent from last year, but prices are up: TRREB