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Canadian home sales climb higher in April, boosted by Toronto and Montreal

Last Updated May 15, 2019 at 3:08 pm MDT

A real estate sign is pictured in Vancouver, B.C., Tuesday, June, 12, 2018. The Canadian Real Estate Association says home sales climbed higher in April, boosted by gains in Montreal and the Toronto region. THE CANADIAN PRESS Jonathan Hayward

OTTAWA — The Canadian Real Estate Association says home sales in April posted their first year-over-year increase since December 2017.

The association says home sales last month were up 4.2 per cent compared with a year ago, when they hit a seven-year low for the month.

The improvement came as gains in Montreal and the Toronto region outweighed a decline in the B.C. Lower Mainland.

On a month-over-month basis, sales through the Multiple Listing Service rose 3.6 per cent in April.

The national average price for homes sold in April was $494,978, up 0.3 per cent from the same month in 2018.

Excluding the Greater Vancouver and Greater Toronto Area, two of the country’s most expensive markets, the average price was just over $391,000.

The Canadian Press