Residential property sales in Canada slowed in April as mortgage interest rates rose, the Canadian Real Estate Association (CREA) said Monday.
According to the organization, the number of homes sold last month fell 25.7% compared to last year, when it set a new record for April.
Monthly, April sales dropped 12.6% from March.
The president ofAITJill Oudil, pointed out that after two record years, housing markets in many parts of Canada have cooled sharply over the past two months, due to rising interest rates and tired consumers.
The number of homes newly listed for sale dropped 2.2% monthly in April, the report continued.AIT.
The real national average home price was just over $ 746,000 in April, up 7.4% from the same month last year.
Source: Radio-Canada
