Canadian home sales drop in May following April’s record

OTTAWA — June 15, 2016 — According to statistics released today by The Canadian Real Estate Association (CREA), national home sales dropped in May 2016 after having set an all-time monthly record in April.
Highlights:

• National home sales dropped 2.8% from April to May.
• Actual (not seasonally adjusted) activity was up 9.6% compared to May 2015.
• The number of newly listed homes fell 3.2% from April to May.
• The MLS® Home Price Index (HPI) rose 12.5% year-over-year in May.
• The national average sale price climbed 13.2% in May from one year ago; net of Greater Toronto and Greater Vancouver, it advanced 9.1% year-over-year.
• The number of homes trading hands via Canadian MLS® Systems fell by 2.8 percent month-over-month in May 2016 after having broken all previous monthly sales records in April.