Real Estate
Home Prices Rebound in Canada as Spring Market Picks Up Speed
- Transactions rise 11.3% while supply remains near 20-year low
- Population growth is helping create tight housing market
A "Sold" sign on a home in Lasalle, Quebec. The benchmark price for a home in Canada rose to C$723,900 in Apri, up 1.6% from the previous month.
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
A recovery in Canadian home prices accelerated in April, as warming weather brought a surge of buyers back into the market to compete for a limited number of properties.
The benchmark price for a home in Canada rose to C$723,900 (about $536,000), up 1.6% from March on a seasonally adjusted basis. Transactions surged 11.3% from the month before, but new supply of homes is near a 20-year low, according to data from the Canadian Real Estate Association.