Existing Home Sales in Canada Surge in May

Existing Canadian home sales rose 56.9% month on month in May. This as they recover from their weakest levels on record in April, the result of the COVID-19 pandemic and shelter in place restrictions. Led by Quebec almost all the provinces posted gains in May. All major metropolitan areas throughout Canada also posted solid gains as well. Nevertheless, the large increase in May was only able recapture about one third of the activity lost between February and April and sales continue at multi-year lows.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.