Canadian home sales rise in April, prices edge lower

By Fergal Smith

TORONTO, ‌May 14 (Reuters) - ​Canadian ​home sales posted a modest increase in April from March after a slow ‌start to the month, and prices edged lower, ⁠data from the Canadian Real Estate Association showed on ‌Thursday.

• Home sales increased ‌0.7% month-over-month in April.

• Sales were down 4% on an annual basis, without seasonal adjustment.

• The ​industry group's Home Price Index edged 0.1% lower on the month and was down ⁠4.2% year-over-year.

• Newly listed properties rose 4.1% month-over-month.

• The sales-to-new listings ratio ​fell to 45.6% from 47.1% in March, moving further below the long-term average.

• “While ​home sales were up only ‌modestly from March to April, the small increase reflected a slow start to ⁠the month with a stronger handoff into May, alongside falling days on market and stabilizing prices,” Shaun ⁠Cathcart, CREA's senior economist, said in a statement.

• “This latest bout ​of global economic uncertainty and higher mortgage rates means the previously expected rebound in housing markets this year will ‌continue to be muted, but it does not mean there will be no ‌upward momentum at all,” Cathcart said.

• A slow ⁠start to the ‌year led to ​CREA last month downgrading its 2026 home sales forecast.

(Reporting by Fergal SmithEditing by Rod ‌Nickel)

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