Sales and listings figures in Canada suggest hot property market is cooling

[Nicholas Wallwork]

Residential property sales dropped slightly in Canada while listings increased, giving rise to suggestions that the country's hot real estate market is showing signs of cooling.

The latest figures from the Canadian Real Estate Association (CREA) shows that sales in April dropped 2.6% from the previous month and are now 6.8% below the peak reached in December 2009.

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