May 20, 2020
Statistics released by the Canadian Real Estate Association (CREA) show national home sales and new listings fell by more than half in April 2020 compared to March.
Summary:
- National home sales fell 56.8% on a month-over-month (m-o-m) basis in April.
- Actual (not seasonally adjusted) activity was down a similar 57.6% year-over-year (y-o-y).
- The number of newly listed properties decreased 55.7% from March to April.
- The MLS® Home Price Index (HPI) edged back 0.6% m-o-m but was still up 6.4% y-o-y.
- The actual (not seasonally adjusted) national average sale price fell 1.3% y-o-y.
Home sales recorded over Canadian MLS® Systems dropped by a record 56.8% in April 2020 compared to an already weakened March, with a majority of sellers and buyers having seemingly moved off to the sidelines during the COVID-19 lockdown.
Access the April 2020 stats PDF.