Ottawa, ON, May 15, 2013 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales edged up slightly on a month-over-month basis in April 2013. Activity has generally held to within short reach of current levels for the past nine months.
“Since changes to mortgage rules made in 2012 took effect, national sales have been running nine to 10 per cent below levels posted in the first half of 2012 but they’ve been remarkably steady. April activity was on par with where it stood last August, and month-to-month changes since then have held to within a range of plus or minus two per cent.” Monthly changes in national sales activity have held to within this narrow range over a nine month period only once before since CREA’s seasonally adjusted data began in 1988.
The number of newly listed homes fell 0.9 per cent month-over-month in April. New listings were down in about half of all local markets, led by Montreal and much of rural Quebec, as well as Ottawa and Greater Vancouver.