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.