CANADA DATA: March Home Sales Jumped At End Of Month
Last updated at:Apr-12 13:18By: Jessica Cairns
- Canadian Real Estate Association says March sales +0.5% MOM after -3.1% in Feb.
- Activity was 10% below an average of the last 10 years.
- Sales-to-new listings ratio tightened to 57.4% from 55.6% as new listings -1.6% MOM.
- Average resale price +2% YOY; price index +0.7% YOY.
- Weekly tracking showed a "burst of sales" in the last week of March, and new listings jumped in the first week of April.
- A spring housing resurgence similar to what happened last year could materialize as the BoC changes their tone on interest-rate cuts.