OTTAWA – May 15, 2012 – According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity edged up by less than one per cent in April 2012.
- Home sales up 0.8% from March to April.
- Actual (not seasonally adjusted) activity stood 11.5% above levels in April 2011.
- The size of the year-over-year increase reflects a slowdown in sales last April following changes to mortgage rules which came into effect on March 18, 2011.
- The number of newly listed homes edged back 0.2% from March to April.
- While still well balanced, the combination of stable new listings and slightly higher sales activity resulted in a tighter national housing market.
- The national average home price edged up 0.9% on a year-over-year basis in April.
Sales over MLS® Systems of real estate Boards and Associations in Canada edged up 0.8 per cent from March to April 2012, putting them on par with levels reported in the same month two years earlier.
Activity was either up or held steady in half of all local markets in April, with Toronto and Calgary posting the biggest monthly increases for the second month in a row. Activity gains in Montreal, Winnipeg, Edmonton, as well as London and St. Thomas also made significant contributions to the national sales increase in April. Increased activity in these markets offset monthly declines in Ottawa, Windsor-Essex, Quebec City, the Fraser Valley, and Vancouver.