June home sales down 24% from last year, 6% since May: CREA

OTTAWA — The Canadian Real Estate Association says home sales across the country fell again in June, but the decreases are smaller than those seen in previous months.

The association says June home sales amounted to 48,176, a 24 per cent drop from 63,280 during the same month last year.

On a seasonally adjusted basis, sales were down almost six per cent from May.

The association says larger declines were seen in April and May, but activity in June still fell slightly below average levels.

The national average home price in June fell two per cent from the same month last year to $665,849 and, on a seasonally adjusted basis, was down four per cent from May.

New listings climbed by four per cent month-over-month and 10 per cent year-over-year as Montreal saw a spike in supply.

This report by The Canadian Press was first published July 15, 2022.

The Canadian Press