CREA says Home Sales fell over the last 3 months

Home sales fell again for the third month according to CREA with Toronto and Vancover leading the way.

Sales are down across the province, with the GTA and Hamilton-Burlington showing the biggest drops. CREA predicts that home sales will fall double digits to their lowest in five years.

 

 

 “ The decline in homeownership affordability caused by this year’s new mortgage stress-test remains very much in evidence. Despite supportive economic and demographic fundamentals, national home sales have begun trending lower. ”

~ Gregory Klump, CREA Chief Economist

For more information, see CREA Stats

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