Statistics released by the Canadian Real Estate Association (CREA) show national home sales were down from March to April 2021.
National home sales declined by 12.5% on a month-over-month basis in April.
Actual (not seasonally adjusted) activity was up 256% year-over-year.
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Despite a modest slowing in market activity in April compared to March, selling prices for all major home types remained very hogh. Low borrowing costs during COVID-19 clearly had an impact on the demand for and price of ownership housing.
Home sales in the Greater Toronto Area (GTA) set a new record for April and amounted to more than quadruple that from April 2020 – the first full month of the pandemic. Bucking the regular seasonal trend, April 2021 sales actually declined month-over-month. A similar trend was noted for the number of new listings reported.
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