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Money Canada home resales fall in April, lowest in over 5 years: CREA

16:36  15 may  2018
16:36  15 may  2018 Source:   reuters.com

CREA calls for halt on homegrown recreational pot

  CREA calls for halt on homegrown recreational pot Canada's real estate industry organization is calling for a moratorium on growing recreational marijuana at home until the government sets out nationwide regulations for the practice. Ottawa's proposed marijuana legalization regulations allow Canadians to grow up to four marijuana plants at their residences. Medical users are already allowed to grow at home after a federal court ruled in 2016 that the government cannot ban patients from growing their own cannabis.

Home prices are notching year - over - year price declines in several markets for the first time since the housing boom began nearly a decade ago. The national average price for homes sold in April 2018 was just over C5,000 (3,453), down 11.3 percent from a year earlier, CREA said.

Resales of Canadian homes fell 2.9 percent in April from March to the lowest level in more than five years , the Canadian Real Estate Association said on Tuesday. Canada 's once-hot housing market has cooled in recent months in response to rising interest rates and tighter mortgage rules - dubbed.

Related video: 5 secrets from real estate insiders [Provided by GoBankingRates]

Resales of Canadian homes fell 2.9 percent in April from March to the lowest level in more than five years, the Canadian Real Estate Association said on Tuesday.

a sign on the side of the road: FILE PHOTO: A woman walks towards a © REUTERS/Mark Blinch/File Photo FILE PHOTO: A woman walks towards a "for sale" sign of a home that has been sold in Toronto

The industry group said actual sales, not seasonally adjusted, fell 13.9 percent, while the group's Home Price Index was up 1.5 percent from April 2017.

(Reporting by Andrea Hopkins; Editing by Chizu Nomiyama)

There's a new threat stalking Canada's homebuyers .
There's a new threat stalking Canada's homebuyersFor years, housing affordability was being eroded by rapidly rising prices in many housing markets. That has come to an end in recent months, with a market slowdown setting in. Home resales were down 13.9 per cent in April, and the average price was 11.9 per cent lower than a year earlier, at $495,000.

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