National home sales activity was up on a month-over-month basis in April, according to statistics released today by The Canadian Real Estate Association (CREA).
The number of home sales processed through the MLS Systems of Canadian real estate Boards and Associations rose 2.7 per cent from March to April 2014. This continues to build on gains recorded in each of the two previous months, marking the third and largest month-over-month increase since last August.
The increase places activity about halfway between the most recent peak reached in August 2013 and the slowdown in the second half of 2012 that followed changes to mortgage rules and guidelines.
Sales rose in half of all local housing markets in April, dominated by a rebound in activity in Greater Vancouver and an increase in Greater Toronto.
"Greater Vancouver and Greater Toronto fuelled the anticipated spring pick up in national home sales in April, which masked softer activity in a number of smaller markets," said CREA President Beth Crosbie.