Toronto and Montreal boost Canadian home sales in April [Business News Network (BNN) Energy & Resources (Canada)]
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Source: Business News Network
Toronto and Montreal boost Canadian home sales in April OTTAWA -- Home sales in April posted their first year-over-year increase since December 2017 as gains in Montreal and the Toronto region outweighed a decline in the B.C. Lower Mainland. The Canadian Real Estate Association said Wednesday that home sales last month were up 4.2 per cent compared with a year ago, when they hit a seven-year low for the month. On a month-over-month basis, sales through the Multiple Listing Service rose 3.6 per cent in April. "Canadian housing activity appears to be broadly stabilizing, as there are signs that the market has largely digested the many policy changes," Bank of Montreal chief economist Doug Porter wrote in a report. "And while the regional divide is wide, fundamentals look to be a bit more supportive in the year ahead, with the policy tightening likely having run its course, job growth surprisingly solid and borrowing costs ebbing." The national average price for homes sold in April was $
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