The number of homes sold in Canada dropped by 14 per cent in April compared to the same period in 2017, touching a seven-year low for the month, the Canadian Real Estate Association said on Tuesday. The national average sale price tumbled by 11.3 per cent year-over-year to just over $495,000.
Sales were down in 60 per cent of all markets, led by the Fraser Valley, Calgary, Ottawa and Montreal.
On a monthly basis, home sales were down 2.9 per cent from March to April. However, the number of newly-listed homes also dropped by 4.8 per cent between March and April. Their decline puts the number of newly-listed homes 12 per cent below the 10-year monthly average, reaching a nine-year low for the month.
With files from the Canadian Press
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