The anticipated spring housing rebound is hitting a speed bump. According to the latest data from the Canadian Real Estate Association (CREA), national home sales in April dipped four per cent compared to the same time last year, totaling 42,927 transactions. Despite this cooling activity, the national average sale price climbed to $695,412—a 2.2 per cent year-over-year increase.
Shaun Cathcart, CREA’s senior economist, attributes this muted momentum to persistent economic uncertainty and the lingering pressure of higher mortgage rates. While new listings rose 4.1 per cent month-over-month, signaling the traditional start of the spring season, buyers remain cautious. For those navigating the GTA market, these figures highlight a complex tug-of-war between supply and affordability. While we aren’t seeing a total market freeze, the aggressive growth many expected has clearly tempered. To read the full report and see how these national trends compare to your local neighbourhood, visit the original article at CTV News.
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