CREA news: Canadian home sales stable in May

OTTAWA – June 15th, 2011 – According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity remained stable in May compared to April.

Highlights:
• Sales activity held steady from April to May, but posted the first year-over-year gain in over a year due to falling demand in May 2010.
• Year-to-date sales are in line with the ten-year average.
• New listings also remained stable from April to May.
• National housing market remains firmly entrenched in balanced territory.
• National average price is still being skewed upward by historically high sales activity in certain Vancouver
neighbourhoods.

Seasonally adjusted national home sales activityedged down by less than one per cent in May 2011 compared to the previous month. Among major markets were activity declines in Vancouver and Ottawa, offsetting gains in Edmonton and Toronto, where sales reached the second highest level on record for the month of May.

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Marlene Ofter

Marlene Ofter

Certified Real Estate Broker
CENTURY 21 Max-Immo
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