CREA Posts Sizeable Month-Over-Month Increase in National Home Sales

OTTAWA  June 16, 2014 — According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity posted a sizeable month-over-month increase in May 2014.
Highlights:
National home sales rose 5.9% from April to May.
Actual (not seasonally adjusted) activity stood 4.8% above May 2013 levels.
•     The number of newly listed homes climbed 3.8% from April to May.
•     The Canadian housing market remains in balanced territory.
•     The national average sale price rose 7.1% on a year-over-year basis in May.
•     The MLS(r) Home Price Index (HPI) rose 5.0% year-over-year in May.
•     The number of home sales processed through the MLS(r) Systems of Canadian real estate Boards and Associations rose 5.9 per cent from April to May 2014. This marks the largest month-over-month increase in nearly four years.