The annual rate of new housing construction in Canada fell slightly by one per cent compared with the previous month, according to the Canada Mortgage and Housing Corporation (CMHC). Actual construction also dropped in major cities like Toronto, Vancouver, and Montreal for both multi-unit and single-detached homes.
The Canadian Real Estate Association (CREA) reported that home sales in April decreased by 1.7% compared to March 2024, but were higher than the previous year. The average sale price also dropped by 1.8% compared to April 2023, standing at $703,446.
#housing-starts #home-sales #real-estate-market #canada-mortgage-and-housing-corporation #canadian-real-estate-association
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