Housing Starts Cool in June, According to Home Goods Online

Existing home sales fell 8.2% in June when compared to the previous, driven primarily buy declines in Toronto and Calgary. However, the Canadian Real Estate Association (CREA) also noted that both sales and new listings fell in almost 70% of all local markets across the country.

CREA also noted that sales during the second quarter of the year - which also ended in June - fell 13.3% from the near record levels set in the first quarter of 2010. The drop was attributed to tightened mortgage regulations and anticipated increases in interest rates.

Actual sales fell 19.7% in June over June 2009. 

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