Economics
Toronto Sales Rebound Signals Canadian Housing Is Stabilizing
- Transactions rose in about half of markets across the country
- Realtor group cuts sales 2018 forecast, calling for 11% drop
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Canada’s home sales were little changed in May, suggesting the residential real estate market is stabilizing after seeing large declines earlier this year.
Transactions fell 0.1 percent from April to 36,373 units, the Canadian Real Estate Association said Friday from Ottawa, keeping the level close to five-year lows. Economists surveyed by Bloomberg predicted sales would fall 1.1 percent, the average of four estimates.