HOME SALES UP IN MAY

Jun 15, 2015

By Kim O'Hare

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The Toronto market led the charge as home sales climbed higher in May from the previous month

The Canadian Real Estate Association says sales in May through its MLS system were up 3.1 per cent from April, marking the fourth consecutive month-over-month increase.

Association chief economist Gregory Klump says a rebound in sales in Calgary and Edmonton suggests uncertainty stemming from low oil prices could be easing.

The association also revised its outlook for the full year upwards to reflect better-than-expected sales in British Columbia.

CREA now anticipates that national home sales will climb to 487,200 units this year, 1.3 per cent higher than last year.

Compared with a year ago, sales across the country in May were up 2.7 per cent, led by Vancouver, Toronto and Montreal.

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