CREA reports home sales down in April as mortgage rates rise

rates slowed home sales in April from the frenzied pace they started the year at, the Canadian Real Estate Association said Monday.

For fixed borrowers, CREA said the stress test just moved from 5.25 per cent to the low 6 per cent range, another roughly one per cent increase in a month.rates are going up and the price to is more, what is going to happen?" said Anita Springate-Renaud, a Toronto broker with Engel & Völkers. On a non-seasonally adjusted basis, new listings amounted to 91,559 last month, down 10.5 per cent from 102,294 in April 2022.

However, on a seasonally adjusted basis the national average home price slid by 3.8 per cent to $741,517 last month from $771,125 in March.

A house is only worth what someone else is willing to pay.

Not anywhere enough.

Good. Happy to see interest rates going up. Weeds out the fake ppl who can stop acting like big shots. Maybe reconsider buying the Rover or Jag. Replies ignored

Hmmm inflation is up, food is up and gas is up banks are feeling left out of the rape and pillage corporate grab! Soon interest rates will rise!

And it's going to get worse unless NDP is elected.

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CREA reports home sales down in April as mortgage rates riseIncreasing mortgage rates slowed home sales in April from the frenzied pace they started the year at, the Canadian Real Estate Association said Monday.
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Canada Mortgage and Housing Corp. reports annual rate of housing starts rose in AprilCanada Mortgage and Housing Corp. says the annual pace of new home construction in April rose eight per cent compared with March. It is 'STATS' not 'STARTS' Educate your staff! Shortly ppl will see as home inventory rises quickly across 🇨🇦 that the low supply argument was BS from the start, just like Bitcoin was supposed to be an inflation hedge LOL look at home listings growth from Jan 2023 - may 2023 Actually it is Game of Builders new construction is not reducing price of house but people who bought long back did so many upgrades paid all those years property tax, they are getting less price there houses why? Just terminate,new house also will pay 5% interest rate
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