Home price declines more pervasive in May, with Calgary a notable exception - Mortgage Rates & Mortgage Broker News in Canada
-23% YoY “While higher lending rates are weighing on sales activity, the market is still struggling with supply levels and rising prices which could also be contributing to slower sales, especially in the detached market,” said CREB Chief Economist Ann-Marie Lurie. “Nonetheless, if this shift continues, we could begin to see more balanced conditions in the market over the next several months, slowing the pace of price growth in the market.” +0.2% YoY +9.6% MoM “With year-over-year resales declining in March and April, and now with this downward trend continuing into May, traditionally the highest performing month for resales, it is quite clear that Ottawa’s resale market is shifting away from the blazing pace of 2021,” said Ottawa Real Estate Board President Penny Torontow.
