As Spring kicks off, Canadian home-buyers are stepping off the sidelines
MLS® Systems of Canadian real estate Boards and Associations have recorded a 2.3 per cent increase in home sales from March to April 2015. CREA President, Pauline Aunger, remarked that the start of the spring season has ushered many new home-buyers into the playing field. Canadian home-buyers usually tend to live in regions with long and cold winters. With this seasonal pattern reoccurring, sellers in Toronto are starting to catch on and have been delaying their listing of their homes until the spring season.
Since the supply for single family homes are low and the demand is very high, the houses are selling fairly quickly. Actual activity in April is reported at a 10.0% increase from April 2014. This means that this would be the third time April has surpassed 50,000 transactions ever. The number of new house listings are at a standstill from March to April with only a tiny increase of 0.1%. The Canadian housing market remains balanced throughout April. On a year-to-year basis in April,the national average sale price has risen 9.5%. This does not include the Greater Toronto and Greater Vancouver, which only increased by 3.4%.
For more information on this topic, click here for a article with more changes during the month of April.