Canada home prices heat up in May as rebound continues
said Thursday that sales were up in 70 per cent of local markets last month.said. The number of sales was also up 1.4 per cent year-over-year, which CREA noted was the first annual increase in almost two years.
Sales prices were also up year-over-year. The national average home price was $729,000 last month, up 3.2 per cent from May of last year.The number of newly listed homes on the market was up 6.8 per cent in May compared with April. While there was an uptick in sellers in the market, the sales-to-new-listings ratio of 67.9 per cent is still well above the long-term average of 55.1 per cent, CREA said.
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