Canadian home sales dipped in April 2024 when compared to March, even as the number of properties available for sale rose to kick off the spring market.

Home sales activity recorded over Canadian MLS® Systems fell 1.7% between March and April 2024, coming in a little below the average of the last 10 years.

At the same time, the number of newly listed homes rose by 2.8% on a month-over-month basis. Slower sales amid more new listings resulted in a 6.5% jump in the overall number of properties on the market, reaching its highest level since just before the onset of the COVID-19 pandemic. It was also one of the largest month-over-month gains on record, second only to those seen during the sharp market slowdown of early 2022.