According to Property Wire:
Residential property sales in Canada increased by 3.6% last month and the national average sales price have gone up by 3.7% year on year.
The latest data from the Canadian Real Estate Association (CREA), shows that momentum in the market is building on gains recorded in the first few months of the year.
The 3.6% increases in sales is the largest monthly gain in almost two and a half years and it has increased national activity almost to where it had been just before new mortgage rules came into force last summer.
Home sales improved in two thirds of all local markets in May.