Canadian home sales rebound in May but volume at record low GlobeBusiness
This translation has been automatically generated and has not been verified for accuracy.Canadian home sales rebounded in May after the pandemic halted activity in April, but volume was the lowest level on record in what is typically one of the busiest months of the year.
Last month, 26,111 homes were sold on a seasonally adjusted basis, up 56.9 per cent from 16,643 in April, according to the Canadian Real Estate Association, with Toronto, Montreal, Vancouver and other large markets leading the way up. The number of new listings climbed by 69 per cent from April to May. The home price index, an industry calculation, fell 0.08 per cent to $619,200, with tiny declines in the most expensive markets of Vancouver and Toronto offsetting gains in other parts of Southern Ontario.The real estate association said it could not release a forecast at this time due to the uncertainty. The national mortgage insurer, Canada Mortgage and Housing Corp.
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