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MNI BRIEF: Canada April Home Sales Rise Most Since 2020


Canadian home sales rose the most in nearly three years in April, showing demand remains high even after the central bank's biggest rate-hike campaign in decades and warnings that borrowing costs will go even higher if inflation becomes sticky.

Sales climbed 11% on the month according to the Canadian Real Estate Association, the most since mid-2020 as some Covid restrictions eased, and also comparable with gains following the 2008 global financial crisis. Prices adjusted to reflect sales of similar properties rose 1.6%, slimming the 12-month decline to 12%. (See: MNI INTERVIEW: BOC Hike More Likely Near-Term Risk: McNeil)

MNI Ottawa Bureau | +1 613-314-9647 |
MNI Ottawa Bureau | +1 613-314-9647 |

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