Canada’s Home Sales Down 12.5% in April

Home sales in Canada declined by 12.5% last month, according to data released by the Canadian Real Estate Association (CREA) on Monday.

Meanwhile, the average selling price decreased by 2.9% in April on a monthly basis, reaching CAD 696,000.

On the other hand, the average selling price rose by 41.9% on an annual basis.

Actual non-adjusted sales increased by 256% in April on an annual basis.

It is worth noting that the high surge on the yearly level is due to the large drop in sales during the corresponding period of 2020 amid the outbreak of the coronavirus pandemic.

The Home Price Index leveled up by 23.1% on a yearly basis, and increased by 2.4 for the month in April, according to CREA.