Canadian home sales drop again in June
With sales having also declined in each of the two previous months, activity in June came in 14.1% below the record set in March.
June sales were down from the previous month in 70% of all local markets, led overwhelmingly by the Greater Toronto Area (GTA).
Monthly declines were also posted in all surrounding Greater Golden Horseshoe housing markets, the Lower Mainland of British Columbia, Kingston, Montreal and Quebec City.
Actual (not seasonally adjusted) activity was down 11.4% on a year-over-year (y-o-y) basis, much of which reflected a significant drop in GTA sales activity.
Nonetheless, half of all local housing markets recorded y-o-y sales declines.
By contrast, Calgary, Edmonton, London and St. Thomas, Ottawa, Montreal and Halifax-Dartmouth topped the list of Canadian cities where home sales surpassed year-ago levels. ■