OTTAWA — The Canadian Real Estate Association says home sales in Canada fell in March, while prices were up 11.2 per cent compared with a year earlier.
The association says home sales in March were down 16.3 per cent compared with the same month last year when they hit an all-time record.
On a month-over-month basis, seasonally adjusted home sales in March were down 5.4 per cent.
The drop in sales came as the number of newly listed homes fell 5.5 per cent on a month-over-month basis in March.
The actual national average home price was $796,068 in March, up from $715,696 in the same month last year.
The association says excluding Greater Vancouver and the Greater Toronto Area, two of the most active and expensive housing markets, cuts $163,000 from the national average price for March this year.
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