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Ottawa, ON, June 15, 2017  The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations in 2017 and 2018.

Housing market trends continue to diverge considerably among regions along four general themes: British Columbia, the Greater Golden Horseshoe, oil and natural resource dependent provinces, and everywhere else.

In British Columbia, activity is showing early signs of recovering from last year’s correction in some areas of the province. This suggests home buying sentiment may be starting to improve.

In Ontario, evidence suggests that housing market sentiment has similarly cooled following housing policy changes made by the provincial government in April 2017. Trends for the province are softening, with home sales and price growth in the Greater Golden Horseshoe region slowing.

Sales activity is still running at lower levels, and...

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Ottawa, ON, June 15, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales posted a sizeable decline in May 2017.

Highlights:

  • National home sales dropped 6.2% from April to May.
  • Actual (not seasonally adjusted) activity in May stood 1.6% below last May’s level.
  • The number of newly listed homes edged up 0.3% from April to May.
  • The MLS® Home Price Index (HPI) was up 17.9% year-over-year (y-o-y) in May 2017.
  • The national average sale price advanced by 4.3% y-o-y in May.

The number of homes sold via Canadian MLS® Systems fell by 6.2% in May 2017 compared to April. The month-over-month (m-o-m) percentage decline was the largest since August 2012.

While May sales were down from the previous month in about half of all local markets, the sizeable national decline largely reflects a 25.3% m-o-m drop in the Greater Toronto Area (GTA). Activity was also down significantly from the previous month among other housing...

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