Annual decline in Canadian home sales less severe in April than March

Canadian home sales fell 3.1 percent from a year ago in April with 60 percent of markets seeing a decline in transactions, the Canadian Real Estate Association (CREA) said today.

That’s an improvement from March, when sales were down more than 15 percent from 2012 levels, and 90 percent of local markets saw declines.

CREA said sales were up a seasonally adjusted 0.6 percent from March to April.

Decreased sales in the greater Vancouver and Toronto markets are restraining prices, which were up 1.3 percent from a year ago.

CREA’s MLS Home Price Index (MLS HPI) rose 2.2 percent in April, its smallest gain in more than two years. Source: crea.ca.