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Home sales jump 56.9% in May, but are still weakest since 1996 [Toronto Globe and Mail (Ontario, Canada)]

Genworth Financial Inc (GNW)

Last genworth financial inc earnings: 10/29 05:10 pm Check Earnings Report

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Company Research Source: Toronto Globe and Mail

Home sales jump 56.9% in May, but are still weakest since 1996 Canadian home sales rebounded in May and early June after the COVID-19 pandemic halted activity in April, but volume was still at the lowest level since the mid-1990s during what is typically one of the busiest times of the year. Last month, 26,111 homes were sold on a seasonally adjusted basis, up 56.9 per cent from April, according to the Canadian Real Estate Association, with Toronto, Montreal, Vancouver and other major cities leading the way up. “Those numbers have been steadily rising from mid-April right through the first week of June,” said Shaun Cathcart, senior economist with CREA. But the association said last month’s sales were the weakest May numbers since 1996 (not adjusted for seasonality), and the country’s housing market still had a long way to go until it reached “normal” levels. The number of new listings climbed 69 per cent in May from a very low base in April. The home price index, an industry calculati Show less Read more

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Home sales jump 56.9% in May, but are still weakest since 1996 [Toronto Globe and Mail (Ontario, Canada)]

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