Economic Indicators
Canadian home prices fall 1.8% on year in June, down 18.5% from February peak
2022.07.15 16:47
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FILE PHOTO: A home for sale on Emerald Street in Hamilton Ontario, Canada May 6, 2022. REUTERS/Carlos Osorio
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OTTAWA (Reuters) – Canada’s average resale home price fell 1.8% from a year ago in June and was down 6.4% on the month, as rising borrowing costs continued to send a chill through the country’s housing market, data from the Canadian Real Estate Association showed on Friday.
The national average selling price dipped to C$665,850 ($511,092) in June from C$711,000 in May. Prices are down 18.5% from February’s peak as sales have plunged. CREA’s home price index slid 1.9% on the month, but was still up 14.9% annually.
