Canadian home sales drop 14% in April: CREA

Home real estate

Home real estate

Even with the drop in sales, prices are still holding up. Adjusted for seasonal variations, it was the weakest level of monthly sales in more than five years, CREA said.

The realtor group said the number of sales plunged by 13.9 per cent compared to the previous year's level, and fell to their lowest April showing since 2011. That figure has fallen by 11.3 per cent from April 2017.

Canadian home sales continued to fall in April, dropping 2.9 per cent month-over-month and 13.9 per cent year-over-year, according to new data released by the Canadian Real Estate Association (CREA) today.

Those numbers were much higher than those experienced in Newfoundland and Labrador, Saint John, Sherbrooke, Saguenay, Quebec, Gatineau and Windsor-Essex markets, where the average home price in April hovered between $200,000 and $300,000.

Greater Vancouver home sales were down 27 per cent in April compared to a year ago, while sales fell 25 per cent in the Fraser Valley east of Vancouver, CREA said. Its president Barb Sukkau said the regulations have "cast its shadow over sales activity", while its chief economist blamed them for having "destabilized market balance for housing markets in Alberta, Saskatchewan and Newfoundland". A ratio of between 40 and 60 per cent is considered balanced, with readings above and below indicating sellers and buyers markets, respectively. The Canadian real estate market held 5.6 months of inventory on a national basis at the end of April 2018.

Weight Watchers (WTW) Issued to Announce Quarterly Revenue on Thursday
Trexquant Investment LP boosted its stake in Weight Watchers by 113.6% during the 1st quarter. (NYSE: WTW ) on Friday, April 20. A number of research analysts have weighed in on WTW shares. (NYSE: WTW ) earned "Hold" rating by Zacks on Saturday, August 8.

Dennis Schroder Can Envision Being Traded To Pacers, Bucks
In a press conference in Germany, Schroder said he does not want to waste his golden years toiling away on a bad team. Indiana ( Darren Collison ) and Milwaukee ( Eric Bledsoe ) already have above-average point guards on the roster.

Saudi Arabia wants nuclear bombs if Iran restarts its weapons programme
"We are very clearly given to understand that if Iran gets nuclear weapons , we will take all steps to achieve it", - he said. Yesterday, President Donald Trump announced the United States would be withdrawing from the Iran nuclear deal.

April is typically a booming month for home sales, as warmer weather spurs sales.

Apartment units (condos) posted the largest year over year gains (+14.7%) in April.

In Montreal, benchmark homes rose by 7.3% for two storey single family homes. The average price of a home sold last month went for just over 495,000 Canadian dollars (about 384,000 US dollars).

The national average price is skewed heavily by statistics in the GVA and GTA. This would make the year over year decline to 4.1%.

Recommended News

  • Eaton Vance Management Grows Stake in Alibaba Group (BABA)

    Eaton Vance Management Grows Stake in Alibaba Group (BABA)

    MUFG Americas Holdings Corp acquired a new stake in shares of Alibaba Group during the 4th quarter worth approximately $101,000. Alibaba Group Holding Limited (BABA ) stock price 7.01% positive depiction highlighted by the trends created around 20 day SMA.
    Women Nation Fund Launched To Invest In Female-Founded Live Music Businesses

    Women Nation Fund Launched To Invest In Female-Founded Live Music Businesses

    Segall Bryant And Hamill Ltd Limited Liability Company has invested 0.01% in Live Nation Entertainment, Inc . (NYSE:LYV). The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.08) by ($0.04).
    Trunk Aircraft Market 2018 - Boeing, Airbus

    Trunk Aircraft Market 2018 - Boeing, Airbus

    This analysis provides a study on the regions that are expected to witness fastest growth during the forecast period. Analyzing various perspectives of the market with the help of Porters five forces analysis.
  • Explosion in California leaves 1 dead, 2 injured

    Explosion in California leaves 1 dead, 2 injured

    Roads were shut down in the area of Oso Parkway, Moulton Parkway and La Paz Road, the Orange County Sheriff's Department tweeted. Authorities initially believed a auto had crashed into the side of the structure but later said that was not the case.
    23 missing after boat carrying 40 capsizes in Andhra Pradesh's Godavari river

    23 missing after boat carrying 40 capsizes in Andhra Pradesh's Godavari river

    Following the accident, local authorities sent police and rescue teams to the spot to carry out rescue work. The tragedy took place between 4.30 PM to 5 PM near Manturu of Devipatnam Mandal in East Godavari district.
    Parents of Stoneman Douglas shooting victims running for Broward School board

    Parents of Stoneman Douglas shooting victims running for Broward School board

    Both parents lost their daughters, Alyssa Alhadeff and Alaina Petty in the February 14 shooting. Petty said he hopes to honor his daughter by improving the Broward school system.
  • Madhuri Dixit gets a huge pre-birthday surprise

    Madhuri Dixit gets a huge pre-birthday surprise

    Her oomph, her beauty and her craft of acting were all intertwined in a way that one could just not separate them. There isn't any comparison between Dixit and her contemporaries as she was just in a different league altogether.

    Taylor Wimpey (LON:TW) Earns "Buy" Rating from Canaccord Genuity

    NICL touched GBX 1562.425 during the last trading session after GBX 12.425 change.Nichols plc has volume of 2,834 shares. The Vnbtrust National Association holds 764,221 shares with $16.18 million value, up from 591,681 last quarter.
    Judge: Mueller can prosecute Manafort

    Judge: Mueller can prosecute Manafort

    His lawyers filed for a dismissal on the basis that the charges extended beyond the scope of Mueller's appointment. The memo shows Rosenstein authorised Mueller to investigate Manafort's Ukrainian work and related financial crimes.
  • Russian Company Attacks Mueller Indictment As Baseless

    Russian Company Attacks Mueller Indictment As Baseless

    Judge Dabney Friedrich, a Trump administration appointee, will hold the first face-to-face hearing in the case Wednesday in federal court in Washington , D.C.

    W&T Offshore (NYSE:WTI) Lifted to "Strong-Buy" at Zacks Investment Research

    The stock has actually grown in the past week, as the company has gathered a 17.92% return in the past 5 trading days. Historical volatility refers to the price fluctuations exhibited by the underlying asset (such as stock) over time.
    Uddhav Thackeray dares BJP to fight polls with ballot

    Uddhav Thackeray dares BJP to fight polls with ballot

    All the apprehensions will go away", Uddhav Thackeray said. "The BJP humiliated the Vanga family and we are contesting the election to help them get justice", he said. "This has raised doubts on the EVMs role".

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.