{"id":1997,"date":"2016-05-17T10:10:35","date_gmt":"2016-05-17T17:10:35","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=1997"},"modified":"2016-05-17T09:37:33","modified_gmt":"2016-05-17T16:37:33","slug":"canadian-home-sales-set-a-new-record-in-april","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/05\/canadian-home-sales-set-a-new-record-in-april\/","title":{"rendered":"Canadian Home Sales Set A New Record in April"},"content":{"rendered":"<p style=\"text-align: justify;\">April turned out to be the best month ever in Canadian real estate with consumers trading 60,952 homes worth $30.4 billion, according to the association that represents the nation\u2019s realtors.<\/p>\n<p style=\"text-align: justify;\">The Ottawa-based Canadian Real Estate Association, which represents boards across the country, said the dollar volume was up 24.8% on a year over year basis. On seasonally adjusted basis, the dollar volume of April sales climbed 3.6% from March.<\/p>\n<p style=\"text-align: justify;\">\u201cWith almost three-quarters of all local markets posting sales gains in April, there are plenty of other places where sales are climbing as we head into the busiest time of the year for homebuyers,\u201d said Cliff Iverson, president of CREA, in a release. He believes activity in Toronto and Vancouver has topped out.<\/p>\n<p style=\"text-align: justify;\">Canada\u2019s two most expensive cities for housing continue to have an impact on national average prices which climbed 13.1% in April from a year ago $508,097. Stripped of the Toronto and Vancouver, the average price of a home climbed 8.7% during the same period.<\/p>\n<p style=\"text-align: justify;\">Sales were up in about 70% of the markets surveyed by CREA with the National Capital Region leading the way. Toronto and Vancouver had small declines in activity.<\/p>\n<p style=\"text-align: justify;\">\u201cSupply shortages and tight housing market conditions have become self-reinforcing in the Greater Toronto Area,\u201d said Gregory Klump, chief economist with CREA, in a statement. \u201cThe Greater Vancouver Area appears to be heading in that direction too. While significant home price gains may entice some homeowners in these markets to list their home for sale, the issue for many is that the decision to move means they would also be looking to buy while competition for scarce listings is fierce. As a result, many homeowners are deciding to stay put and continue accumulating capital gains. That\u2019s keeping listings off the markets at a time when they are already in short supply.\u201d<\/p>\n<p><a href=\"http:\/\/business.financialpost.com\/personal-finance\/mortgages-real-estate\/canadian-home-sales-set-a-new-record-in-april\" target=\"_blank\">Canadian Home Sales Set A New Record in April<\/a> by Garry Marr | Financial Post<\/p>\n","protected":false},"excerpt":{"rendered":"<p>April turned out to be the best month ever in Canadian real estate with consumers trading 60,952 homes worth $30.4 billion, according to the association that represents the nation\u2019s realtors. &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/05\/canadian-home-sales-set-a-new-record-in-april\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1997","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Canadian Home Sales Set A New Record in April &#8226; 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