The Canadian Real Estate Association says home sales last month fell on a month-over-month basis for the third straight month as the market continued to slow after hitting an all-time record in March.
The association says home sales were down 8.4 per cent month-over-month in June, as sales cooled in 80 per cent of all local markets.
However, compared with a year ago, sales in June rose 13.6 per cent to set a new record for the month.
CREA chair Cliff Stevenson says while there is still a lot of activity in many markets across Canada, things have noticeably calmed down in the last few months.
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The number of newly listed homes edged up 0.7 per cent in June compared with May.
CREA says the actual national average price of a home sold in June was a little over $679,000, up 25.9 per cent compared with a year ago.