Home sales slip 2.6 per cent in April, continuing slide since December

The Canadian Press ~ The News
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Canada's hot housing markets is showing signs of cooling slightly.
The Canadian Real Estate Association says the seasonally adjusted number of home sales through its members slid 2.6 per cent last month from March
That's 6.8 per cent lower than the sales peak reached in December.
Meanwhile, the number of listings by owners who want to sell their house rose by 99,901, slightly surpassing the previous high for April set in 2008.
Price levels may be a reason. The association notes the average price of sales through the Multiple Listing Service were up 12.2 per cent from April 2009.
It would take 4.5 months to sell all the homes up for sale at the current rate, the association says, less than a year ago but more than the pre-recession levels.

Organizations: Canadian Real Estate Association, Multiple Listing Service

Geographic location: Canada

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