Canada’s housing market is slowly coming out of the cold, but economists say there’s no comeback in the works.
Newly released data from the Canadian Real Estate Association (CREA) says sales of exiting homes fell 3.1 per cent in April compared to the same month last year, with transactions down in about 60 per cent of local markets.
That compares with a 15-per-cent year-over-year decline in March, with transactions down in more than 90 per cent markets – a drop CREA attributed to the Easter holiday and an extra full weekend at the end of the month in 2013.
The average sale price of a home across Canada rose 1.3 per cent in April compared to a year ago, or to $380,588.
In the shorter term, home sales across Canada rose 0.6 per cent in April as compared with March, while the number of newly listed homes fell 0.9 per cent month-over-month.
Economists say the numbers are encouraging heading into the popular spring home-selling season.
“We are continuing to see signs of a spring thaw in theRead More »from Few signs of a thaw in Canada’s housing market