Home Sales in Canada Reach Record High in April

Sales of existing homes in Canada reached a record high in April and increased by 3.1% (seasonally adjusted) compared to March. On a non-adjusted basis, actual home sales surged by 10.3% in April.

Home sales in April were driven by real estate demand in Ottawa and Edmonton and offset the weakness in the Vancouver real estate market, according to the Canadian Real Estate Association (CREA). The association reported that more than 70% of the region witnessed a gain in activity. CREA President Cliff Iverson said, “National home sales set new monthly records over the past two months, even as activity in Greater Vancouver and the GTA (Greater Toronto Area) appears to have topped out.”

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