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.
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.