April 15, 2014 - 6:33 AM
TORONTO - The Canadian Real Estate Association says the number of homes sold last month was up 4.9 per cent compared with the same month last year, but remained below the 10-year average.
The industry association also says sales in March were up 1.0 per cent compared with February, but below a recent peak set last August.
CREA says more than half the local markets it tracks saw more sales in March, led by Vancouver, Calgary and Toronto.
However, the number of new listings rose only half a percentage point and the supply of homes for sale remains low.
The national average price for homes sold in March was $401,419, up six per cent from the same month last year.
The association's MLS home price index also rose 5.19 per cent year-over-year, up slightly from 5.05 per cent in February.
News from © The Canadian Press, 2014