The transaction for the sale of houses decreased by 6.7% as compared to May on a monthly basis.
Actual (not seasonally adjusted) activity was down 11.4 per cent compared to the same time past year, led overwhelmingly by a significant drop in sales activity in the Greater Toronto Area (GTA), the CREA report said.
Meanwhile, the association's index measuring house prices slowed for a third straight month, climbing 15.8% in June from a year ago, or off from the recent April peak of a almost 20% advance.
With sales down and months of supply slowly growing in the Greater Golden Horseshoe, BMO economists Douglas Porter and Robert Kavcic argue that Ontario's new policy did indeed cool the market. Separately, the Toronto Real Estate Board has said June sales dropped 37.3 per cent from the previous June, while new residential listings climbed 15.9 per cent.
CREA suggests new housing demand will be negatively impacted by last week's rate decision, when the Bank of Canada increased its benchmark rate to 0.75%. Mr. Klump said this too will weigh on national sales in the coming months.
"The recent increase in interest rates could reinforce a lack of urgency to purchase or, alternatively, move some buyers off the sidelines before their pre-approved mortgage rate expires".
However, Porter and Kavcic say the national average price is skewed as its weight is dominated by Toronto's slowing but elevated activity.
But some experts believe that home prices in Canada will keep rising, despite the interest rate hike.
The latest home price data came the day after the Bank of Canada raised interest rates for the first time in almost seven years.
German police arrest armed man after he shows up at school
Police scrambled to Friedrich Ebert School in Esslingen, near Stuttgart, to reports of an armed man in the area this morning. A manhunt is still underway to find the suspect who is described as being in his teens with a dark complexion and beard.
The actual national average price for homes sold in June 2017 was $504,458, up just 0.4 per cent from where it stood one year earlier.
While the slowdown in Toronto and area sales pulled down the national real estate activity.
On a year-over-year basis, half of all local markets saw a decline in sales last month. Also, sales are down 14.1% compared to the record level seen in March.
Nationally, the market is considered balanced, with a sales-to-new listings ratio of 52.8%.
A former Balch Springs Police officer has been indicted by a Dallas Grand Jury for murder in the death of a teenager. Oliver's attorney, Jim Lane, did not immediately return a phone message seeking comment Monday.
Necesitaré algo de tiempo para aprender, paso a paso, con tranquilidad y serenidad el rol que más me convenga. Esta es la primera vez que Francesco Totti se pronuncia luego de su último encuentro como jugador romano.
En 2015 se reformó la Constitución para integrar el apartado del SNA, el cual mandata a congresos estatales generar una estructura y facultades equivalentes, e impuso como fecha límite para eso el martes 18 de julio del año en curso.
Los resultados fueron dados a conocer por Cecilia García Arocha , rectora de la Universidad Central de Venezuela , que junto con otras tres instituciones de educación superior en la nación sudamericana conformaron la Comisión de Garantes, designada por los organizadores de la consulta .
About 4.86M shares traded. ( NASDAQ :DRYS) by some 497,471 shares, 9 decreased positions by 67 and 10 held positions by 1,117. A number of hedge funds and other institutional investors have recently made changes to their positions in the stock.
Aún no trascendieron detalles de la logística, pero el contador de la ex presidenta deberá ser trasladado a Buenos Aires. En un escrito que presentó en marzo de este año, el sospechoso aseguró que toda acusación hacia su persona "es absurda".
Cargo ship hits boats and dock at City Deck
A short time later, crunching could be heard on the video as the vessel pushed the smaller boat into the dock. Murphy added, "we thought the action was done and we heard another noise and we heard it hit the bridge too".
Noam Chomsky visitó a José Mujica en su chacra
Sobre la crisis de los refugiados, opinó que la misma "es más bien una crisis moral" y una "responsabilidad de occidente". A su turno, Chomsky, comenzó con su conferencia titulada " Los desafíos para construir democracias solidarias ".
Houston Rockets owner puts team up for sale
Alexander was also the original owner of the now defunct Houston Comets of the WNBA, a franchise that won four consecutive titles. The trademark of Alexander's ownership has been a constant pursuit of stars.
Trump is set in Paris for climate confrontation
Nevertheless, she wouldn't be offering commentary on Mr Trump's conversations with the French president or his wife. After repeating the comment to the French President, Mr Trump turned back to Mrs Macron and said: "Beautiful".
Walmart apolgizes for racist listing on Walmart.com website
Walmart apologized Monday after using the N-word to describe the color of a product in an online description of a hair product. Walmart apologized for the third-party seller's description of the product in a statement released on Monday.