Sales of existing homes in Canada fell by 12.5 percent in April after reaching their highest level ever recorded in March, according to data from the Canadian Real Estate Association.
Month-over-month declines in sales activity were observed in close to 85 percent of all local markets, including virtually all of B.C. and Ontario. In contrast, actual (not seasonally adjusted) sales activity posted a 256 percent year-over-year gain in April, reflecting the chasm between the best April ever in 2021 and the worst ever last year.
