Canada real estate: Home sales dip in April from prior month

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The Canadian Real Estate Association says the number of homes changing hands in April fell from the previous month despite an influx of new listings hitting the market.

said home sales in April were down 1.7 per cent, while newly listed properties available for sale rose 2.8 per cent to kick off the spring market.

Slower monthly sales amid more new listings meant there was a 6.5 per cent jump in the overall number of properties on the market — the second largest month-over-month gain on record. "We consider it a little bit more of a fair market where neither buyers or sellers have, let's call it, an advantage."

"We've had a pretty strong start to the year compared to last year ... I think people are becoming a little bit more comfortable with the rates that we're going to be dealing with."

 

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