• Canadian Real Estate Association says June sales +3.7% MOM after -0.6% in May as the BoC made its first rate cut at the beginning of the month.
  • Average resale price -1.6% YOY; price index -3.4% YOY but +0.1% MOM, the first increase in 11M.
  • Number of transactions -9.4% YOY from base effect.
  • Housing inventory fell for the first time in 2024, and is below the long term average.

CANADA DATA: June Housing Sales Up After BoC Rate Cut

Last updated at:Jul-12 13:11By: Jessica Cairns
  • Canadian Real Estate Association says June sales +3.7% MOM after -0.6% in May as the BoC made its first rate cut at the beginning of the month.
  • Average resale price -1.6% YOY; price index -3.4% YOY but +0.1% MOM, the first increase in 11M.
  • Number of transactions -9.4% YOY from base effect.
  • Housing inventory fell for the first time in 2024, and is below the long term average.

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