September home sales fell 0.4 per cent compared with August: CREA
The federal government is instituting significant changes to Canada's mortgage rules aimed at ensuring homeowners will survive an increase in interest rates. (File image/ The Canadian Press
The Canadian Press
Published Monday, October 15, 2018 10:13AM EDT
OTTAWA -- The Canadian Real Estate Association says home sales in September fell 0.4 per cent compared with August.
The association says it was the first month-over-month decline since April.
Sales fell in slightly more than half of all local markets, led by Vancouver Island and Edmonton, along with several markets in Ontario's Greater Golden Horseshoe region.
The move lower came as home sales compared with a year ago fell 8.9 per cent.
The national average price for a home sold in September was just under $487,000, up 0.2 per cent compared with a year ago.
Excluding the Greater Toronto Area and Greater Vancouver Area, the average price was just over $383,000.