Home prices fall for the second straight month to an average of $746,146
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.
Original Article Source Credits: CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/
Article Written By: Steve Huebl
Original Article Posted on: May 16, 2022