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Home sales edge downwards in Canada, latest data shows

Home sales edge downwards in Canada, latest data shows - home sales - Canada

Residential property sales in Canada edged downwards in June and price growth varied considerably, the latest statistics from the Canadian Real Estate Association (CREA) show.

Home sales were down 1.3% compared to May and while price gains remained strong in Toronto and accelerated in Calgary they continued slowing in Greater Vancouver.

But overall the national average home price slipped 0.8% on a year on year basis in June. Actual, not seasonally adjusted, activity stood 4.4% below levels in June 2011, marking the first year on year decline since April 2011.

The number of newly listed homes climbed 1.4% from May to June. CREA said that fewer sales and a rise in new listings resulted in a more balanced national housing market.

National activity was down from the previous month in slightly more than half of all local markets, with Greater Toronto and Vancouver contributing most to the small decline.


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