Home sales cool last month after record March, Greater Toronto Area leads decline

OTTAWA – The Canadian Real Estate Association says home sales cooled in April after setting a record the previous month.

The industry trade group says home sales over the MLS system fell 1.7 per cent last month compared with March.

The decline was led by the Greater Toronto Area, and sales were down in nearly two-thirds of all local markets across the country.

READ MORE: Canadian home sales hit record high in March, with gains in over half of local markets

Compared with a year ago, sales in April were down 7.5 per cent across Canada.

The actual average price for a home sold last month was $559,317, up 10.4 per cent from a year ago, boosted by the Greater Vancouver and Greater Toronto markets.