Realtors say March home sales data contains promising signs

By THE CANADIAN PRESS

2009-04-15 17:05:00

OTTAWA - The number of existing homes sold last month was down from a year ago, but continued an upward trend that began in February, the Canadian Real Estate Association said Wednesday.

The association, which represents real-estate brokerage firms, also reported that the national average price for homes fell again in March compared with the same month last year.

"Housing markets are starting to show signs of buyer interest because of lower prices and interest rates," CREA president Dale Ripplinger said in a statement.

Sales of existing homes listed with the industry's MLS service totalled 35,225 units across Canada in March. That's 13.5 per cent below actual sales in March 2008, but CREA said it's the smallest year-over-year decline in six months.

The association also noted that, on a seasonally adjusted basis, March sales were seven per cent higher than in February, which was 10.3 per cent above January.

The association said the number of transactions in March was 18 per cent higher than in January, when activity was the lowest in a decade.