Cielo condos location. What kind of house can I buy in each big city? The Canadian Real Estate Association reported on May 17th that the number of homes sold in April fell 12.5% from the previous month.Please Visit: Cielo condos location to Get Your VVIP Registration Today!
CREA said sales fell in all markets across the country, including Ontario and BC.
Cliff Stevenson, chairman of CREA, said: although the Canadian housing market is still very active, it is beginning to balance.
But today’s market (unseasonally adjusted) sales are 256 per cent higher than in the same period last year, reflecting the huge gap between the best April in history and the worst April last year.
Real estate has been booming over the past year as the COVID-19 pandemic pushed interest rates to record lows. Coupled with the fact that the purchase demand of Canadians has been delayed by the epidemic for several months, some buyers are willing to give everything for the house they want.
COVID-19 does break the usual seasonal pattern of Canadian real estate.
At the beginning of the outbreak, shutdowns in various industries led to a collapse in property sales in March and April 2020, followed by explosive growth when it reopened in May.
In any other year, April sales are higher than March, but March 2021 is the busiest month ever. Rishi Sondhi, an economist at TD Bank, said the April slowdown could mark a change in direction or a short-lived signal.
“more information is needed to assess whether the market still has upward momentum, or whether it is really cooling. Sales will tend to decline in the second half of the year, and higher interest rates and stricter stress test rules will begin to attract people’s attention, “he said.”
The number of new homes on the market fell 5.4 per cent in April compared with March. Supply and demand grew synchronously in March, followed by a simultaneous decline in April, suggesting that the slowdown in sales may be partly related to a decline in the number of listed houses.