Home sales up in May

Canadian home sales continue to climb, rising 3.6% in May from April, shows new stats by the Canadian Real Estate Association (CREA).

The strength of the housing market indicates the national economy’s sustained growth and adds to the argument that Canada will only face a soft landing in this sector.

Read: Steady gains in housing market

“Until recently, mixed sales trends across the country taken together had resulted consistently in a stable national trend,” says Gregory Klump, CREA chief economist. “The difference in May was that sales improved in so many markets at the same time.”

Read the full report here.

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