Home prices fall for the second straight month to an average of $746,146

Author: External Author | Categories: Commercial Mortgage , Mortgage Agent , Mortgage Services , New to Canada Mortgage

The average price for a house in Canada fell for the second straight month in April, posting a 12.6% decline from March.

Home sales came in at 54,894, a 25.7% decline from last month, but was still the third-highest April sales figure ever behind 2021 and 2016, according to data from the Canadian Real Estate Association (CREA).

“Following a record-breaking couple of years, housing markets in many parts of Canada have cooled off pretty sharply over the last two months, in line with a jump in interest rates and buyer fatigue,” said Jill Oudil, Chair of CREA.

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Original Article Source Credits:   CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By:  Steve Huebl

Original Article Posted on:  May 16, 2022

Link to Original Article:  https://www.canadianmortgagetrends.com/2022/05/home-prices-fall-for-the-second-straight-month-to-an-average-of-746146/