Canadian Housing Markets

We continue to read that we are living through unprecedented times since the start of the pandemic. When reflecting on the recent Canadian housing markets, this truth is reflected.

The Canadian Real Estate Association (CREA) has reported some concise stats, with infographics, displaying a snapshot of real estate housing markets across Canada as at May 2020.*Based on data recorded over Canadian MLS® Systems. All percentage changes are year-over-year comparisons. CREA has reported: Home sales are down 39.8% across Canada with 33,051 units sold in May 2020 compared to 54,874 in May 2019. New listings are down 38.1% across Canada, with 59,977 new listings added in May 2020 compared to 96,830 in May 2019. The average price of homes sold across Canada in May 2020 was $494,476, down 2.6% from $507,440 in May 2019. With a few economic variables at play, house prices in Alberta have been hit the hardest in the country, seeing Average prices down -4.6% from this time last year.

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