Larry Cerqua, Chair of CREA, stated, “Housing markets appear to be stabilizing heading into the summer following some big ups and downs over the last year.” Recovery in New Listings: 5.9% Month-Over-Month Increase While the Greater Toronto Area (GTA) experienced a slight decline in sales, gains in British Columbia and Alberta compensated for the decrease.Ĭompared to June 2022, the actual number of transactions in June 2023 was 4.7% higher, marking the most significant year-over-year national sales increase in two years. This growth is slightly smaller than the previous months of April and May, indicating a gradual shift in the market. Rise in Home Sales: 1.5% Month-Over-Month Increase in JuneĪccording to the latest data from CREA, national home sales in Canada experienced a month-over-month increase of 1.5% in June. The actual (not seasonally adjusted) national average sale price posted a 6.7% year-over-year increase in June.The MLS® Home Price Index (HPI) climbed 2% month-over-month but was still down 4.5% year-over-year.The number of newly listed properties rose 5.9% month-over-month.Actual (not seasonally adjusted) monthly activity came in 4.7% above June 2022.National home sales edged up 1.5% month-over-month in June.Key Points from the Canadian Housing Report As the summer and fall approaches, these professionals can provide valuable information and assistance tailored to the specific dynamics of the housing market in your region. If you are considering buying or selling a property in this evolving market, it is advisable to seek guidance from a trusted REALTOR® in your area. With increases in home sales, new listings, and prices, the market shows signs of stabilization and offers potential opportunities for both buyers and sellers. The Canadian Real Estate Association ( CREA) has recently released its statistics for May 2023, revealing promising trends in the national housing market. The increase in supply and the recent Bank of Canada rate hikes are expected to moderate price growth in the coming months, creating a more balanced and favorable environment for both buyers and sellers.ĪLSO READ: US Housing Market Predictions Canada Housing Market Trends 2023 With a modest increase in home sales, a recovery in new listings, and a positive trend in prices, the market appears to be finding its balance. The Canadian housing market's latest statistics indicate a promising shift towards stabilization. 45 Secret Websites & Ways to Make Money Online in 2023.21 Best Cities to Invest in Real Estate in 2023.Portland Housing Market: Prices, Trends, Forecast 2023.Nashville Housing Market: Prices, Trends, Forecast 2023.

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