- Sales -25.7% y/y in April
- Sales -12.6% m/m in April
- Prices -0.6% m/n
- Prices +23.8% y/y
- 2.2 months of inventory
“Following a record-breaking couple of years, housing markets in many parts of Canada have cooled off pretty sharply over the last two months, in line with a jump in interest rates and buyer fatigue,” said Jill Oudil, Chair of CREA.
The air is coming out of the Canadian housing market at the moment. There's a good chance of a hard landing with the national average home price was a little over C$746,000. Locally, homes that used to sell in days are taking weeks.