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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.

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/Bloomberg

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.