Housing market rebounded in Toronto this may
May was the best month for home sales in 16 months, the Canadian Real Estate Association said Friday, as activity in big cities such as Toronto and Vancouver helped the national market rebound from the doldrums earlier this year. The group that represents 130,000 realtors across Canada said the number of homes sold in May was 1.9 per cent higher than it was in April. That's a modest uptick, but it's the third straight month that the figure has risen since activity plunged to its lowest level in more than six years in February. Sales in May came in 8.9 per cent higher than the trough they plunged into that month. CREA says about half the markets across the country actually saw slower sales in May, but big cities such as Toronto and Vancouver saw gains, which offset declines elsewhere.
Tags : INTERNATIONAL