Real estate continues to adjust in April

OTTAWA — Sales of houses in Canada fell 2.9% from March to April, according to the Canadian Real Estate Association. Year over year, actual (not seasonally adjusted) activity was down 13.9% from April 2017. The number of newly listed homes also fell in April, down 4.8% from the previous month. CREA’s house price index was up 1.5% year over year, while the year-over-year national average sale price declined by 11.3% in April. About 60% of all local housing markets reported fewer sales, led by the Fraser Valley, Calgary, Ottawa, and Montreal. The number of newly listed homes declined 4.8% in April, representing a nine-year low.