Home sales in Montreal, Quebec declined 8% in May from a year earlier.
According to the Quebec Professional Association of Real Estate Brokers, May’s result was an improvement from April this year, when home sales declined 26% from a year earlier.
The association said that there were 4,428 homes sold across Montreal during in the month of May, an 8% decrease from the same month in 2022.
The improved sales activity came despite new listings in the city falling 11% to 6,196.
The median price of a single-family home in Montreal declined 4% to $550,000 compared with a year earlier, while condominium prices dipped 2% to $403,000.
The association said there are signs that buyers in Montreal are returning to the market heading into summer, encouraged by the stabilization of interest rates and home prices.
