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Canadian home sales grew by 11.3% from March-April as demand outpaced supply
Posted on May 22, 2023 |
The home sales saw an increase of 11.3% from March to April, after a smaller back-to-back monthly growth in February-March.
The BC Lower Mainland and the Greater Toronto Area (GTA) overwhelmed April’s sales increase.
The number of newly listed homes grew monthly by 1.6% in April, but the new supply of listed homes is at a 20-year low.
In April end, there were 3.3 months of inventory available on a national basis, down half a month from 3.8 months at the end of March.