Account Login/Registration

Access KamloopsBCNow using your Facebook account, or by entering your information below.


Facebook


OR


Register

Privacy Policy

Canadian home sales dip to 5-year low for June

National home sales once again dipped to new lows in June.

Sales actually jumped 4.1% from May to April, but June's year over year statistics set a new five-year low for Canada.

Compared to last year at this time, the dip in sales from 12 months ago is more noticeable, as activity in June 2018 was down 10.7% compared to June 2017.

<who> Photo Credit: CREA

The number of newly listed properties for sale fell by 1.8% across the country, while the average Home Price Index for last month inched slightly up by 0.9% from June 2017.

Along with these statistics, the Canadian Real Estate Association (CREA) has also provided its insight on what the next few months could hold for national home sales.

<who> Photo Credit: File Photo.

“This year’s new stress-test on mortgage applicants has been weighing on homes sales activity; however, the increase in June suggests its impact may be starting to lift,” said CREA President Barb Sukkau.

According to Gregory Klump, CREA’s Chief Economist the national increase in June home sales suggests activity may indeed be starting to turn the corner, however national home sales still have a long way to go before returning to the levels posted in recent years.

Real estate professionals also believe future home sales activity and prices gains will be held in check by higher interest rates.



Send your comments, news tips, typos, letter to the editor, photos and videos to [email protected].



Weather
webcam icon

weather-icon
Thu
13℃

weather-icon
Fri
11℃

weather-icon
Sat
11℃

weather-icon
Sun
18℃

weather-icon
Mon
20℃

weather-icon
Tue
18℃
current feed webcam icon

Top Stories

Follow Us

Follow us on Instagram Follow us on Twitter Like us on Facebook Follow us on Linkedin
Follow Our Newsletter
Privacy Policy