patrick.net

The average price of a Canadian home declined by more than 11 per cent in the 12 months up to April, the Canadian Real Estate Association said Tuesday.

The realtor group said the number of sales plunged by 13.9 per cent compared with the previous year's level, and fell to the lowest April showing since 2011.

April is typically a booming month for home sales, as warmer weather spurs sales. But listings slowed from March's level during the month, coming in 4.8 per cent lower. It was the slowest April for new listings in nine years, CREA said.

Sales were down in 60 per cent of all markets, led by the Fraser Valley in British Columbia, along with markets in and around the Golden Horseshoe area in southern Ontario.