Has the Canadian Housing Market Bounced Back from COVID-19?
Statistics released by the Canadian Real Estate Association (CREA) reveal national home sales and new listings continued to rebound in June 2020.
Here's a snapshot of how the Canadian Housing Markets performed in the month of June 2020 and how they compare to last year:
• National home sales rose 63% on a month-over-month (m-o-m) basis in June.
• Actual (not seasonally adjusted) activity was up 15.2% year-over-year (y-o-y).
• The number of newly listed properties climbed 49.5% from May to June.
• Actual (not seasonally adjusted) new supply stood 4.8% above June 2019.
• The MLS® Home Price Index (HPI) rose 0.5% m-o-m and was up 5.4% y-o-y.
• The actual (not seasonally adjusted) national average sale price posted a 6.5% y-o-y gain. Home sales recorded over Canadian MLS® Systems in June 2020 rebounded by a further 63%, returning them to normal levels for the month – some 150% above where they were in April.
National home sales and new listings continued to rebound in June, returning to normal pre-COVID-19 levels. Sales were up 63% from May 2020 and up 150% from where they were in April. Watch as CREA's Senior Economist Shaun Cathcart offers more details on the current housing market in the video report below.
https://www.youtube.com/watch?v=fntONNXpmaI&list=PLOKoTy8yPzZaRjG8ArUm5F6Ny2FEl5rxb&index=2&t=0s