Canadian Home Sales Hit Five-Year Low on Tougher Mortgage Rules
This article is for subscribers only.
Canadian home sales fell to the lowest in more than five years in April, as tougher mortgage qualification rules deterred buyers.
The number of homes sold last month declined 2.9 percent from March, the Canadian Real Estate Association said Tuesday from Ottawa. Declines were recorded in about 60 percent of cities tracked including Vancouver, Calgary, Toronto and Montreal.