Record home resales in March

OTTAWA — According to statistics released today by The Canadian Real Estate Association, national home sales posted their third monthly increase and broke all previous monthly records. The number of homes trading hands via Canadian MLS Systems rose by 1.5% month-over-month to set a new all-time record in March 2016. Though sales edged lower by 0.3% in Greater Vancouver and by 1.8% (month over month) in the Greater Toronto Area, both remain near record highs reached the month before. Sales in March were up from the previous month in about 60 percent of all local markets, including Victoria, Chilliwack, the Okanagan Region, Edmonton, Calgary, Woodstock-Ingersoll, Kingston, Barrie, and Montreal.