"House price declines are slowing down" Nationally CREA, then why doesn't it feel that way?

Highlights:

  • National home sales fell by 5.6% on a month-over-month basis in June.

  • Actual (not seasonally adjusted) monthly activity came in 23.9% below the June record set in 2021.

  • The number of newly listed properties was up 4.1% month-over-month.

  • The MLS® Home Price Index (HPI) edged down 1.9% month-over-month but was still up 14.9% year-over-year.

  • The actual (not seasonally adjusted) national average sale price posted a 1.8% year-over-year decline in June.

Source: CREA

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