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Canadian Mortgage Broker News - April home sales takes dip

Canadian Mortgage Broker News - April home sales takes dip

April home sales takes dip

| Monday, 17 May 2010

Although April was the busiest month on record for Canadian real estate agents, listing almost 100,000 homes, sale numbers continued to dip with buyers stepping away from an increasingly expensive market.

A new monthly record was set with 99,901 homes being put up for sale according to The Canadian Real Estate Association. Many homeowners are hoping to sell in what is being deemed the market's peak, with higher mortgage rates and growing prices discouraging buyers from entering the market.

The number of homes being listed has cooled the market a little as buyers have more choices, allowing them more time before making a purchase.

Seasonally adjusted national home sales slipped 2.6 per cent from March, now 6.8 per cent lower than in December.

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