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CREA reports home sales down in March, average price up 11.2 per cent from year ago

The Canadian Press
CREA reports home sales down in March, average price up 11.2 per cent from year ago

OTTAWA — The Canadian Real Estate Association says home sales in Canada fell in March, while prices were up 11.2 per cent compared with a year earlier.

The association says home sales in March were down 16.3 per cent compared with the same month last year when they hit an all-time record.

On a month-over-month basis, seasonally adjusted home sales in March were down 5.4 per cent.

The drop in sales came as the number of newly listed homes fell 5.5 per cent on a month-over-month basis in March.

The actual national average home price was $796,068 in March, up from $715,696 in the same month last year.

The association says excluding Greater Vancouver and the Greater Toronto Area, two of the most active and expensive housing markets, cuts $163,000 from the national average price for March this year.

 

© 2022 The Canadian Press

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