Canadian home sales drop sharply in May

Ottawa, ON, June 15, 2017 – According to statistics released by The Canadian Real Estate Association (CREA), national home sales posted a sizeable decline in May 2017.

Highlights:

National home sales dropped 6.2 per cent from April to May.
• Actual (not seasonally adjusted) activity in May stood 1.6 per cent below last May’s level.
• The number of newly listed homes edged up 0.3 per cent from April to May.
• The MLS Home Price Index (HPI) was up 17.9 per cent year-over-year (y-o-y) in May 2017.
• The national average sale price advanced by 4.3 per cent y-o-y in May.

The number of homes sold via Canadian MLS Systems fell by 6.2 per cent in May 2017 compared to April. The month-over-month (m-o-m) percentage decline was the largest since August 2012.

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