Home sales rose in May for the first time since November
Canadian home sales climbed 3.6 per cent in May in the first increase since November, but the real estate industry cautions it is too early to say the country’s housing market is rebounding after a two-year slump.
There were 37,626 home sales last month after adjusting for seasonal influences, according to the Canadian Real Estate Association, or CREA. That was higher than April when selling activity was essentially flat after months of consecutive declines. The swell in activity was similar to November when sales rose 3.2 per cent month over month.
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