OTTAWA — Home sales dropped by a record 56.8 percent in April, compared to an already weakened March, according to the Canadian Real Estate Association. Sellers and buyers across the country have seemingly moved off to the sidelines during the COVID-19 lockdown.
Transactions were down on a month-over-month basis. Among Canada’s largest markets, sales fell by 66.2% in the Greater Toronto Area (GTA), 64.4% in Montreal, 57.9% in Greater Vancouver, 54.8% in the Fraser Valley, 53.1% in Calgary, 46.6% in Edmonton, 42% in Winnipeg, 59.8% in Hamilton-Burlington and 51.5% in Ottawa.
There were 9.2 months of inventory on a national basis at the end of April 2020, up from 4.3 months in March.
