Montreal-area home sales fall 15% in January: real estate board

Quebec’s real estate board says Montreal-area home sales fell 15 per cent on a year-over-year basis in January amid a shortage of supply and limited purchasing power for some households.

The Quebec Professional Association of Real Estate Brokers says 2,364 properties changed hands throughout the month in the Montreal census metropolitan area, down from 2,774 during the same time a year ago.

Charles Brant, the board’s market analysis director, says that despite a slowdown in activity...