June home sales down 24 per cent from last year, 6 per cent since May: CREA

On a seasonally adjusted basis, sales were down almost six per cent from May.

June home sales down 24 per cent from last year, 6 per cent since May: CREA

The national real estate market's cooling continued with home sales falling again in June, but the Canadian Real Estate Association said the decreases are smaller than those seen in previous months.

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Latest in Mortgage News: Rising Prices Spur Talk of Capital Gains Tax on Home Sales

The editorial readily admits it would be the country’s “most unpopular tax,” but suggests it’s a discussion worth having due to the enormous tax-free gains being made by today’s sellers.

Latest in Mortgage News: Rising Prices Spur Talk of Capital Gains Tax on Home Sales

The Department of Finance actually tracks the revenue the government is missing out on by not taxing home equity on principal residences: $7.1 billion this year alone.

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