April home sales takes dip

April home sales takes dip

Although April was the busiest month on record for Canadian real estate agents, listing almost 100,000 homes, sale numbers continued to dip with buyers stepping away from an increasingly expensive market.

A new monthly record was set with 99,901 homes being put up for sale according to The Canadian Real Estate Association.  Many homeowners are hoping to sell in what is being deemed the market's peak, with higher mortgage rates and growing prices discouraging buyers from entering the market.

The number of homes being listed has cooled the market a little as buyers have more choices, allowing them more time before making a purchase.

Seasonally adjusted national home sales slipped 2.6 per cent from March, now 6.8 per cent lower than in December.

  • Zoltan Padar 2010-05-19 7:27:06 AM
    Why do we need to always try to fix thinks, when they are working just fine. Many new changes has been brought to the mortgage industry, new rates, qualification processes, down payment size and all others are just kind of making me believe there is something wrong with the current system? Why are so many homes are on the market? Because borrowers, otherwise qualified prospects are simply not able to qualify. Will be more on the market soon. I believe slowing the development side would be a better alternative. I also believe, there are a lot of more homes will be on the market soon, unsold, taking care of the fundamental correction of home prices downward, making housing more affordable.
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