A decline in sales pulled the national average price of a home down to $796,000. Learn more here.
While the average price was still up more than 11 per cent year-over-year, it declined two per cent from the February reading of $816,720, according to data from the Canadian Real Estate Association.
“While the market remains historically very active, March definitely saw a slowdown compared to February in terms of both activity and price growth,” said CREA chair, Jill Oudil, in a release. “One month does not make a trend, so we’ll have to wait and see if this is the beginning of the long-awaited cooling-off of this market.”Article content
One month does not make a trend, so we’ll have to wait and see if this is the beginning of the long-awaited cooling-off of this market“There were a number of measures announced in the federal budget to help aspiring homebuyers, the biggest being getting more housing built,” Cathcart said in a release. “That is the obvious long-term solution to this issue because we all need to live somewhere.
, founder of Toronto-based real estate analytics firm Realosophy Realty Inc., told the Financial Post’s Larysa Harapyn in an April interview he was seeing an impact from the Bank of Canada’s moves.Article content
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