May 15, 2018
By Jane Brown
Home sales across the country have fallen to their lowest level in five years.
A report from the Canadian Real Estate Association this morning says sales fell 13.9 percent from April of 2017 to April of this year.
The average home price decreased by 11.3 percent year over year last month to just over $495,000.
However, the number of newly-listed homes also dropped by 4.8 percent between March and April of 2018.
The decline puts the number of newly-listed homes 12 percent below the 10-year monthly average, reaching a nine-year low for the month.