TheCanadian Real Estate Association said this week that the rebound inhome sales and prices for April was stronger than expected.
Seasonallyadjusted national sales climbed 11.2% from March, the largestmonth-over-month gain in more than five years. The number of homes thatchanged hands (34,838), was higher than in any of the prior sevenmonths.
Calgary led the rebound, with a 31% gain in sales overMarch, followed by Vancouver (30%), Montreal (15%) and Toronto (10%).Sales were up from March levels in 70% of markets across the country.Actual sales of 43,473 in April was down 11.8% from the same month ayear ago.
The average sale price of $306,366 is 3.2% belowApril, 2008's, average. Inventory numbers were down 1.8%, to theirlowest level since June, 2006, and 16.4% below the peak in May, 2008.The supply-versus-demand ratio is more balanced now in BritishColumbia, Alberta, Ontario and Quebec.