Ottawa July 15, 2010 - Statistics released by The Canadian Real Estate Association (CREA) show that the number of newly listed homes and sales activity declined in June 2010.
- Seasonally adjusted national home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards receded 8.2 per cent in June from the previous month.
- Tightened mortgage regulations and anticipated interest rate increases cooled sales activity throughout the second quarter
- The number of newly listed homes on Canadian MLS® Systems in June 2010 declined by 6.8 per cent from the previous month
- The national average price of homes sold via Canadian MLS® Systems rose 4.9 per cent on a year-over-year basis in June to $342,662.
“The housing market is becoming more challenging for sellers,” said CREA President Georges Pahud. “Buyers are in less of a hurry, so sellers should consult with their local REALTOR® on how to best price and present their home to attract purchase offers.”