House prices down 1.8% year-over-year in March, sales also lower: CREA

The Canadian Real Estate Association says home sales in March fell compared with a year ago while the average sale price also moved lower. The association says sales through the Multiple Listing Service fell 4.6 per cent compared with a year ago to their lowest level for March since 2013.

CREA says sales in B.C., Alberta and Saskatchewan were more than 20 per cent below their 10-year average for the month, while Quebec and New Brunswick were well above-average.

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On a month-over-month basis, home sales in March were up 0.9 per cent compared with February.

Meanwhile, the average sale price fell 1.8 per cent on a year-over-year basis to $481,745. Excluding the Greater Vancouver and Greater Toronto Area, two of the country’s most active and expensive markets, the average price was just under $383,000.

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