Montreal home sales rise in June as prices continue to climb: real estate board
The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 6.4 per cent in June compared with the same month last year.
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The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 6.4 per cent in June compared with the same month last year.
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The Toronto Regional Real Estate Board says home sales in June declined 16.4 per cent from last year, with many potential buyers staying on the sidelines despite the highly anticipated Bank of Canada interest rate cut.
Jul 2, 2024
The Canadian Press
The Calgary Real Estate Board says June home sales fell 12.8 per cent from last year as 2,738 properties changed hands, driven by declines in lower-priced homes.
Despite the decrease in sales, the board says activity was still 17 per cent higher than long-term trends for the month.
The benchmark price across all home types was $608,000 for June — up 8.5 per cent from a year earlier and roughly 0.4 per cent higher than May.
New listings fell 3.6 per cent year-over-year to 3,798 and there were 3,787 units in inventory, 9.2 per cent higher than last year.
Ann-Marie Lurie, chief economist at CREB, says inventory in the lower price ranges of each property type continue to fall, "providing limited choices for potential purchasers looking for more affordable product."
She also notes that Calgary continues to be a competitive market for some buyers, with more than 40 per cent of the homes sold in June selling over the listed price.
This report by The Canadian Press was first published July 2, 2024.