Home resales up 1.4 percent in March from Feb

By REUTERS, , Updated: April 15, 2010 9:46 AM

Home resales up 1.4 percent in March from Feb

TORONTO (Reuters) - Sales of existing homes in Canada rose 1.4 percent in March from February, boosted by strong activity in the Toronto and Ottawa markets, the Canadian Real Estate Association (CREA) said on Thursday.

The industry group said a total of 43,621 homes changed hands on a seasonally adjusted basis in March.

CREA said the national average price in March was up 17.6 percent from a year earlier to C$340,920, just C$300 below the peak set last October.

($1=$1.00 Canadian)

(Reporting by Ka Yan Ng; Editing by Jeffrey Hodgson)

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