Home Resales Fade in April" CREA

Perhaps the long-hoped-for slowdown in the housing market is staring, according to figures released Monday morning.

The Canadian Real Estate Association said resales of Canadian homes fell 1.7% in April from record highs in March as new listings spiked.

The industry group said actual sales, not seasonally adjusted, were down 7.5% from April 2016, while home prices were up 19.8% from a year ago, according to the group's home price index.