Home sales in Canada fell in March, while prices were up 11.2 per cent compared with a year earlier, Canadian Real Estate Association said Tuesday.
OTTAWA -
Rates for five-year fixed-rate mortgages have also risen in recent weeks as the yields of five-year government of Canada bonds have climbed higher. The drop in sales came as the number of newly listed homes fell 5.5 per cent on a month-over-month basis in March. Royal LePage said according to its home price survey that the national aggregate home price was up 25.1 per cent year-over-year in first quarter at $856,900, the highest gain on record since the company began tracking prices.
“And, home prices will continue to climb in the months ahead as a result of our relentless low supply-high demand imbalance.”
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