But John Andrew, a real estate expert with Queen University, said the year over tear drop in sales was surprising and significant, especially when you consider that home prices continued to rise.
OTTAWA Canadian home sales were up from March but down from a year ago in April, signalling the lacklustre spring market will continue.
The aggregate composite MLS Home Price Index was up 5.02 per cent.
A long winter that continued until April in most cities can be partly to blame for slow sales, he added, but notes they should have picked up as the weather warmed up in the first few weeks of May.
to push house prices up.
The CREA said the national average price for a home sold in April was $409,708, up 7.6 per cent from a year ago, with prices up in six of the 10 provinces.
Vancouver and Greater Toronto fuelled the anticipated spring pick up in national home sales in April which masked softer activity in a number of smaller markets, CREA president Beth Crosbie said.
Concerns have been raised about the health of the Canadian housing market in recent months amid worries it could be overheated and headed for a fall.
Earlier this week, Investors Group created stir in the spring mortgage market when it offered a 36 month closed, variable rate mortgage at 1.99 per cent a move observers say could prompt other lenders to lower Sneakers Nike Black their rates, and continue Shoes Nike For Girls
April home sales up from March
year ago and one per cent below the 10 year average.
kind of continues this trend that we been seeing over the past year or so, where prices just continue to rise in most markets in Canada even though sales are actually dropping, Andrew said.
seeing a very lacklustre spring market, he said. Nike Shoes For Boys Black And White
even if you didn see a lot of activity you see those listings in April. (Their absence) is almost an early warning that sales are going to be low. national sales to new listings ratio was 51.9 per cent in April compared with 52 per cent in March, suggesting the market was in balanced territory.
The Canadian Real Estate Association said home sales were up 2.7 per cent from March to April, boosted by the Vancouver and Toronto markets, but sales through the Multiple Listings Service were down 0.3 per cent compared with a Nike Sneaker Shoes Price
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