Real estate signage showing a home that has sold is seen on Monday, May 15, 2023 in Montreal. The Canadian Real Estate Association says home sales in May climbed higher compared with the same month last year to post the first year-over-year sales increase since June 2021 as prices also climbed higher. THE CANADIAN PRESS/Christinne Muschi
OTTAWA – The Canadian Real Estate Association says home sales in May rose compared with the same month last year to post the first year-over-year sales increase since June 2021 as prices also climbed higher.
The association says the number of home sales In May gained 1.4 per cent compared with the same month last year.
Seasonally-adjusted sales for May were up 5.1 per cent compared with April.
The increase in sales came as the number of newly listed properties rose 6.8 per cent month-over-month.
The actual national average home price was $729,000 in May, up 3.2 per cent from May 2022.
CREA says it was the first year-over-year increase in the national average price in a year.
This report by The Canadian Press was first published June 15, 2023.
