According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity posted a fourth consecutive month-over-month increase in May 2015.
Highlights:
- National home sales rose 3.1% from April to May.
- Actual (not seasonally adjusted) activity stood 2.7% above May 2014 levels.
- The number of newly listed homes was little changed from April to May.
- The Canadian housing market remains balanced overall.
- The MLS® Home Price Index (HPI) rose 5.17% year-over-year in May.
- The national average sale price rose 8.1% on a year-over-year basis in May; excluding Greater Vancouver and Greater Toronto, it increased by 2.4%.
The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations rose 3.1 per cent in May 2015 compared to April. This marks the fourth consecutive month-over-month increase and raises national activity to its highest level in more than five years.
May sales were up from the previous month in about 60 per cent of all local markets, led by increases in the Greater Toronto Area, Calgary, Edmonton, Ottawa and Montreal.
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