(Dreamstime)

By The Canadian Press

CREA reports home sales down in March, average price up 11.2 per cent from year ago

Apr 19, 2022 | 8:08 AM

OTTAWA, ON – The Canadian Real Estate Association says home sales in Canada fell in March, while prices were up 11.2 per cent compared with a year earlier.

The association says home sales in March were down 16.3 per cent compared with the same month last year when they hit an all-time record.

On a month-over-month basis, seasonally adjusted home sales in March were down 5.4 per cent.

The drop in sales came as the number of newly listed homes fell 5.5 per cent on a month-over-month basis in March. The actual national average home price was $796,068 in March, up from $715,696 in the same month last year.

The association says excluding Greater Vancouver and the Greater Toronto Area, two of the most active and expensive housing markets, cuts $163,000 from the national average price for March this year.

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(The Canadian Press)