April 15, 2020
Statistics released today by the Canadian Real Estate Association (CREA) show national home sales and listings were down sharply between February and March 2020.
Highlights:
- National home sales fell 14.3% on a month-over-month (m-o-m) basis in March.
- Actual (not seasonally adjusted) activity was up 7.8% year-over-year (y-o-y).
- The number of newly listed properties dropped 12.5% m-o-m.
- The MLS® Home Price Index (HPI) advanced by 0.8% m-o-m and 6.9% y-o-y.
- The actual (not seasonally adjusted) national average sale price climbed 12.5% y-o-y.
Home sales recorded over Canadian MLS® Systems dropped by 14.3% in March 2020 compared to February, as the economic turmoil and physical distancing rules surrounding the COVID-19 pandemic caused both buyers and sellers to increasingly retreat to the sidelines over the second half of the month.
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