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CREA reports June home sales down 10.7% from year ago, but up from May

The Canadian Real Estate Association says home sales in June were down 10.7 per cent compared with a year ago.
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A real estate sign is pictured in Vancouver, B.C., Tuesday, June 12, 2018. THE CANADIAN PRESS Jonathan Hayward

The Canadian Real Estate Association says the number of homes sold in June was down 10.7 per cent from a year ago.

The result was a five-year low for the month of June.

However, sales volume was up 4.1 per cent when compared with May.

The association says it was the first substantive month-over-month increase this year.

The national average price for a home sold in June was just under $496,000, down 1.3 per cent from a year ago.

Excluding the Greater Vancouver and Greater Toronto markets, the average price was just over $389,000.

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The Canadian Press

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