(OTTAWA) National residential property sales soared 11.3 per cent between March and April as the real estate market appeared to recover, the Canadian Real Estate Association (CREA) reported Monday.
Seasonally adjusted sales for the month totaled 38,164 units compared to 34,277 units in March, the association said.
The actual number of homes sold last month was 44,059, down 19.5% from a year earlier.
The association says the year-over-year decline in sales was significantly less than those reported in recent months.
The seasonally adjusted number of new listings edged up 1.6% to 54,355 in April from March, but supply remains at a 20-year low.
The average real house price reached around $716,000 in April, down 3.9% from April 2022, but up $103,500 from January 2023.