Canada home sales rise most since August
Canadian home sales rose last month at the fastest pace since August as a surge in transactions in Vancouver and Toronto offset a cooling elsewhere. The number of homes changing hands in April rose 2.7 percent from a month earlier, the Canadian Real Estate Association said today in a statement, as sales jumped 14 percent in Vancouver and 4.6 percent in Toronto. The national average price of a home sold was up 0.8 percent from March and 7.6 percent from a year earlier, it said. Gains in Canada’s two largest real estate markets are masking softness in other parts of Canada, where government efforts to slow housing demand may be having more effect. From a year ago, national sales are down 0.3 percent.
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Average house price rises 7.6% to $409,708 in Canada
The average price of a Canadian home moved higher in April to $409,708, a 7.6 per cent increase in the past year. The figure continues to be skewed higher by hot markets in Toronto and Vancouver, the Canadian Real Estate Association said in a release Thursday.
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Source: Bloomberg, CBC News & CREA May 15 2014