CANADIAN HOME PRICES, SALES CONTINUE FALLING IN JUNE

Jul 15, 2021

By Bob Komsic

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Home sales across Canada fell for the third straight month in June as the market continued to slow following an all-time record in March.

They fell by 12% in April, by 7% in May, then 8.4% last month as transactions cooled off in 80% of all local markets.
Compared with a year ago however, sales in June rose 13.6% to set a new record for the month.
”While there is still a lot of activity in many housing markets across Canada, things have noticeably calmed down in the last few months,” said Canadian Real Estate Association Chair Cliff Stevenson.
”There remains a shortage of supply in many parts of the country, but at least there isn’t the same level of competition among buyers were were seeing a few months ago.”
The average sale price in June was $679,000, down from $716,000 in March.
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