According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity posted a sizeable month-over-month increase in May 2014.
Highlights:
- National home sales rose 5.9% from April to May.
- Actual (not seasonally adjusted) activity stood 4.8% above May 2013 levels.
- The number of newly listed homes climbed 3.8% from April to May.
- The Canadian housing market remains in balanced territory.
- The national average sale price rose 7.1% on a year-over-year basis in May.
- The MLS® Home Price Index (HPI) rose 5.0% year-over-year in May.
The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations rose 5.9 per cent from April to May 2014. This marks the largest month-over-month increase in nearly four years.
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