Canadian Home Sales and Listings Rebound in June

The Canadian Real Estate Association (CREA) is reporting that both Canadian home sales and listing rebounded in June 2020. Month-over-month new home sales increased by 63%, returning them to near normal levels for the month and some 150% above where they were in April. Actual activity (not seasonally adjusted) is up 15.2% year-over-year. Newly listed properties jumped 49.5% from May to June. On a national basis, at the end of June 2020, there was only a 3.6 month of available inventory, which is at a 16-year low for this measure. Year-over-year the national sales price average has posted a 6.5% gain.