Canadian Home Sales Increase In April

According to the latest information from the Canadian Real Estate Association, resale housing activity across Canada increased by just under one per cent in April 2012.

“A number of Canadian housing market trends in April remained intact from the previous month,” said the president of the Canadian Real Estate Association, Wayne Moen, in a press release. “Trends in Vancouver and Toronto continue to diverge. These two housing markets have an obvious influence on national statistics and a high profile, but Canada is a big place. Trends in housing markets differ across Canada, and as all housing is local, buyers and sellers should speak to their local realtor to better understand current and prospective trends where they live.”

The Toronto real estate market saw the biggest increase, along with Calgary.

“It bears repeating that the national average price was skewed higher last spring by record level high-end home sales in Vancouver’s priciest neighbourhoods, and that a replay of this phenomenon was not expected this year,” said the chief economist for the Canadian Real Estate Association, Gregory Klump. “Sales data confirm that high-end activity in Vancouver is well off the peak levels reached at this time last year, which is exerting a gravitational pull on the national average price.”

So far this year, 157,804 homes have been sold in Canada, which is a 6.4 per cent increase over the same time last year.

“By contrast, activity in Toronto is stronger this spring than it was last spring,” added Klump. “Higher-priced sales activity there is on the rise and buoying average prices. As the most active housing market in Canada, Toronto is the biggest factor supporting national average price.”

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