"Canadian home sales drop again in June"

• National home sales dropped 6.7% from May to June
• Actual activity in June stood 11.4% below last June's level
• The number of newly listed homes edged back by 1.5% from May to June 
• The Multiple Listing Service (MLS) Home Price Index was up 15.8% year over year in June 2017
• The national average sale price edged up just 0.4% year over year in June 

There were 5.1 months of inventory on a national basis at the end of June 2017 - up a full month from where the measure stood in March and the highest level since January 2015.
 
The actual national average prices for homes sold in June 2017 was $504,458 - up just 0.4% from where it stood one year earlier.
 
"Canadian economic and job growth have been improving, which is good news for housing demand," said CREA (The Canadian Real Estate Association) President Andrew Peck. "However, it also means that interest rates have begun to rise, which may impact home buyer confidence - particularly in pricier markets like Toronto and Vancouver where recent housing policies had already moved potential buyer's to the sidelines."
 
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Mike Mossuto