Latest news with #CREA
CBC
6 days ago
- Business
- CBC
Annual home sales down 4.3% in May, but activity up on monthly basis
The Canadian Real Estate Association says home sales in May fell 4.3 per cent compared with a year ago, but activity picked up when compared to the previous month. Home sales rose 3.6 per cent from April, marking the first month-over-month increase at the national level in more than six months. CREA senior economist Shaun Cathcart says that after buyers sat on the sidelines for much of 2025 so far, there is a sense "maybe the expected turnaround in housing activity this year was just delayed for a few months by the initial tariff chaos and uncertainty." The association also says new listings rose 3.1 per cent month over month. There were 201,880 properties listed for sale across Canada at the end of May, up 13.2 per cent from a year earlier, but still five per cent below the long-term average for the month of around 211,500 listings. The actual national average sale price of a home sold in May was $691,299, down 1.8 per cent from a year ago. "Canada's housing market remains subdued, but resale conditions in general are not worsening, while construction activity continues to push ahead," wrote Robert Kavcic, senior economist at BMO.
Global News
6 days ago
- Business
- Global News
Home sales up 3.6% in May after ‘delayed' start to peak season: CREA
Worries about tariffs and the trade war may have been weighing on the minds of potential home buyers and sellers, but the month of May showed some upward momentum, which could signal that the housing market is starting to warm up as summer officially approaches. 'May 2025 not only saw home sales move higher at the national level for the first time in more than six months, but prices at the national level also stopped falling,' said Shaun Cathcart, senior economist at the Canadian Real Estate Association (CREA). 'There is a sense that maybe the expected turnaround in housing activity this year was just delayed for a few months by the initial tariff chaos and uncertainty.' According to the latest report from the Canadian Real Estate Association, national home sales in May were up 3.6 per cent compared to April of this year, and the number of new properties added to the market increased by 3.1 per cent in the same period. Story continues below advertisement 1:36 Uncertainty in B.C. real estate market sees lowest home sales in a decade The CREA also highlighted that the increase last month was led by more activity in hot markets like the Greater Toronto Area, Calgary and Ottawa. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy This still represents a cooler market than the same time in 2024, and that's mainly because of uncertainty about the economy due to the trade war and other factors weighing on buyers and sellers. The national average sale price in May was 1.8 per cent lower than last year. When adjusting for seasonal factors, the Home Price Index was relatively unchanged in May compared to April of this year. Potential buyers may have been waiting on the sidelines for concerns about the trade war to settle, as well as to see how interest rates might be affected. As the Bank of Canada continues with its 'wait and see' approach in determining whether to make any changes to borrowing costs, which have a direct effect on mortgage costs, buyers who had been waiting for rates to decrease further may have been putting down offers on homes in May. Story continues below advertisement Although this is a promising sign for the housing market, the CREA findings are mostly based on national averages, and it's important to consider individual needs and preferences. 'Overall (there were) more sellers and buyers (in May) compared to April … it seems like this may carry over into June as well,' said CREA chair Valérie Paquin. 'If you're looking to buy or sell a property heading into the second half 2025, you'll need to understand how national trends are — or are not — playing out locally.'
Calgary Herald
6 days ago
- Business
- Calgary Herald
Canadian home sales rise for the first time in more than six months
Canadian home sales rose 3.6 per cent between April and May, their first gain since November. Photo by Tyler Anderson/National Post Canadian home sales rose 3.6 per cent between April and May, marking their first gain since November, according to the Canadian Real Estate Association's (CREA) latest housing report. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Calgary Herald ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Calgary Herald ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors 'May 2025 not only saw home sales move higher at the national level for the first time in more than six months, but prices at the national level also stopped falling,' CREA senior economist Shaun Cathcart said in a release. 'It's only one month of data, and one car doesn't make a parade, but there is a sense that maybe the expected turnaround in housing activity this year was just delayed for a few months by the initial tariff chaos and uncertainty.' Total Canadian sales fell 4.3 per cent year-over-year in May on a non-seasonally adjusted basis. CREA said the National Composite MLS Home Price Index was 'almost unchanged' from April as it declined by 0.2 per cent in May and 3.5 per cent on a year-over-year basis. The non-seasonally adjusted national average home price declined 1.8 per cent year-over-year to $691,299 in May.
Reuters
6 days ago
- Business
- Reuters
Canadian home sales rise, prices flat in May on a monthly basis
OTTAWA, June 16 (Reuters) - Canadian home sales rose 3.6% in May from April and were down 4.3% on an annual basis, data from the Canadian Real Estate Association showed on Monday. The industry group's Home Price Index was almost unchanged on the month and was down 3.5% annually, while the national average selling price was down 1.8% on the year.
Hindustan Times
13-06-2025
- Health
- Hindustan Times
Pune: Study reveals persistent poor air quality between Feb & Apr 2025
A recent study by the Centre for Research on Energy and Clean Air (CREA), based on data from the Central Pollution Control Board (CPCB), has revealed that Pune experienced poor air quality on 57 out of 89 days between February and April 2025. The analysis underscores that PM10 levels — levels of coarse particulate matter originating mainly from road dust and construction activities — consistently exceeded the National Ambient Air Quality Standards (NAAQS) throughout most of this three-month period, particularly in February and March. According to the study published on June 10, the average PM10 concentration stood at 127 µg/m³ in February and 112 µg/m³ in March, both significantly higher than the permissible limit of 100 µg/m³. Although April saw a slight improvement, with average PM10 levels dropping to 94 µg/m³, the figures still marked a year-on-year increase. This trend signals a reversal from earlier improvements which is worrying. In case of PM2.5 — a finer and more hazardous pollutant associated with vehicular emissions, industrial activity, and biomass burning — the monthly averages were within the 60 µg/m³ threshold but remained a matter of concern: 55 µg/m³ in February, 51 µg/m³ in March, and 44 µg/m³ in April. The CREA report warns that prolonged exposure to both PM10 and PM2.5 can have serious health consequences, including respiratory illnesses and cardiovascular complications. Despite several interventions under the city's Clean Air Action Plan and a cumulative expenditure of ₹222 crore under the National Clean Air Programme (NCAP), Pune has consistently failed to achieve compliance with annual PM10 standards. A six-year trend analysis (2019–2025) presented in the study showed inconsistent but troubling patterns in particulate matter levels. PM2.5 concentrations dropped sharply to 23 µg/m³ in 2020 — likely due to the Covid-19 pandemic-related lockdowns — but spiked to 61 µg/m³ in 2022. Levels improved to 36 µg/m³ in 2024 before rising again to 44 µg/m³ this year. A similar trend was seen for PM10, which fell to 36 µg/m³ in 2020, peaked at 101 µg/m³ in 2022, dropped to 87 µg/m³ in 2024, and rose again to 94 µg/m³ in April 2025. Manoj Kumar, an analyst at CREA, said, 'Despite the investments, we've never met national PM10 standards. This calls for a serious review of local action plans and better accountability in implementation.' Dushyant Bhatia, a member of the Pune Air Action Hub, echoed similar concerns. 'We've worked with local authorities on issues like mobility and solid waste, but the current approach needs a rethink. We need source-level interventions such as improved public transport and a ban on open burning, rather than stop-gap measures like mist cannons, which have limited effectiveness,' Bhatia said. Experts also stressed that with winter approaching — a season typically marked by deteriorating air quality — the city must act swiftly to improve baseline conditions. With infrastructure like the Metro and Pune Mahanagar Parivahan Mahamandal Limited (PMPML) buses already in place, the focus must shift toward enhancing accessibility and affordability of public transport to reduce dependence on private vehicles. When contacted, Maharashtra Pollution Control Board (MPCB) regional officer J S Salunkhe did not respond. However, in an earlier statement, he acknowledged that PM10 levels continue to exceed safe limits due to construction activity and traffic congestion. He added that action has been initiated against ready-mix plants and that coordination with traffic police is underway to address the issue.
