Canadian home sales rise in June, prices unchanged from prior month

By Promit Mukherjee

OTTAWA, ‌July 15 (Reuters) - ​Canadian ​home sales posted a modest increase in June following a ‌robust jump the previous month, and prices ⁠remained unchanged, data from the Canadian Real ‌Estate Association showed on ‌Wednesday.

• Home sales increased 0.5% month-over-month in June.

• Sales were up 0.9% on ​an annual basis, without seasonal adjustment.

• The industry group's Home Price Index ⁠was unchanged on the month and was down 3.6% year-over-year.

• ​Newly listed properties declined 1.3% month-over-month.

• The sales-to-new listings ratio rose to ​50.2% in June from ‌49.3% in May, moving above the 50% mark for the ⁠first time this year.

• "June's housing numbers continued to build momentum following the late start ⁠to the year in May, with virtually every metric ​moving in the right direction,” Shaun Cathcart, CREA's senior economist, said in a statement.

• "We continue to ‌expect the second half of the year to be quite ‌a bit more active than the first ⁠half, similar to ‌sales activity in ​2024 and 2025," Cathcart said.

(Reporting by Promit Mukherjee; Editing by Nia ‌Williams)

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