Sales of existing Canadian homes fell by 12.6 percent in April compared to the previous month, according to data from the Canadian Real Estate Association. The decline placed monthly activity at the lowest level since the summer of 2020. Sales were down in 80 percent of local markets, with exceptions in Victoria, Montreal, and Halifax-Dartmouth, where sales edged up slightly.
The actual (not seasonally adjusted) number of transactions in April came in 25.7 percent below the record for that month set last year. Still, it was the third-highest April sales figure ever, behind 2021 and 2016.
