Home resales cool down in March

Sales of existing Canadian homes fell 5.4 percent in March, the Canadian Real Estate Association reports. That puts activity back in line with where it had been since last fall. Sales were down in about half of local markets in March, led by declines in the Greater Toronto Area and Calgary.

The actual (not seasonally adjusted) number of transactions in March 2022 came in 16.3 percent below the record set the previous March. Still, it remains the second-highest level on record for that month.