The number of homes changing hands across the country was 15.3 per cent lower in March than a year ago, although sales nudged up 2.4 perecent from February, the Canadian Real Estate association said Monday.
House sale have been in a slump since last summer, when the federal government took steps to make it harder to obtain mortgages. Sales have not rebounded since then, and the growth in house prices has slowed. The MLS Home Price Index rose just 2.2 per cent in March, its smallest gain in over two years, said CREA which represents the nations Realtors.
More than 90 per cent of the local markets that it obtains data from posted year-over-yer sales declines in March, while Edmonton once again showed an increase.