Canadian Home Sales Activity Improves in June

• National home sales rose 4.1% from May to June
• Actual (not seasonally adjusted) activity was down 10.7% from June 2017
• The number of newly listed homes eased 1.8% from May to June
• The MLS Home Price Index (HPI) in June was up 0.9% year-over-year (y-o-y)
• The national average sale price edged down 1.3% y-o-y in June

"This year's new stress-test on mortgage applicants has been weighing on homes sales activity; however, the increase in June suggests its impact may be starting to lift," said CREA President Barb Sukkau. "The extent to which the stress-test continues to sideline home buyers varies by housing market and price range. All real estate is local, and REALTORS® remain your best source for information about sales and listings where you live or might like to in the future," said Sukkau.

"The national increase in June home sales suggests activity may indeed be starting to turn the corner," said, Gregory Klump, CREA's Chief Economist. "Even so, the number of homes trading hands has a long way to go before it returns to levels posted in recent years. Looking ahead, home sales activity and price gains will likely be held in check by higher interest rates."



If you have any questions, or concerns, about today's market, contact me today!
 
Mike Mossuto
 Sales Representative
 Keller Williams Complete Realty
 905-929-3473

(All information taken from CREA National Statistics)