Canadian homes sales decline to lowest level in five years in April, 2018: CREA

The Canadian Real Estate Association (CREA), released national sales statistics for the month of April of 2018 today.

According to the report, “National home sales via Canadian MLS® Systems declined by 2.9% in April 2018 to the lowest level in more than five years. About 60% of all local housing markets reported fewer sales, led by the Fraser Valley, Calgary, Ottawa and Montreal.” Gregory Klump, CREA’s Chief Economist went on to add, “This year’s new stress test has lowered sales activity and destabilized market balance for housing markets in Alberta, Saskatchewan and Newfoundland and Labrador Provinces.”

Highlights of CREA’s report

  • National home sales fell 2.9% from March to April.
  • Actual (not seasonally adjusted) activity was down 13.9% from April 2017.
  • The number of newly listed homes declined 4.8% from March to April.
  • The MLS® Home Price Index (HPI) in April was up 1.5% year-over-year (y-o-y).
  • The national average sale price declined by 11.3% y-o-y in April.

Read the entire report on Canadian MLS® sales for April of 2018.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Norm Fisher

Royal LePage Vidorra