OTTAWA, June 15 (Reuters) – Canadian home sales fell 7.4% in May from April, with the average selling price also inching down on the month, data from the Canadian Real Estate Association showed on Tuesday.
The national average selling price was C$696,000 ($571,429) in May, down 1.1% from April but up 38.4% from a year earlier, the industry group said. Home prices fell in April and May of last year amid first wave COVID-19 shutdowns.
Actual sales, not seasonally adjusted, rose 103.6% from a year earlier, while CREA’s Home Price Index was up 24.4% on the year and up 1% from April. ($1 = 1.2180 Canadian dollars) (Reporting by Julie Gordon in Ottawa)