“Soft activity in the priciest cities” helps explain why sale prices dropped 1.8 per cent compared with April 2023, BMO's chief economist says. in April, a “calmer housing market” has kept prices down and helps improve the chances of a Bank of Canada rate cut, says BMO’s chief economist.New listings rose 2.8 per cent from March to April, but seasonally adjusted sales dropped 1.7 per cent over that period, according to the CREA data.
“At the margin, cooler home prices and more ample listings slightly increase the chances of rate relief in coming months.”
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