Sales of homes in Canada, seasonally adjusted, jumped 11.2 per cent last month from March, the largest month-to-month increase in more than five years, according to the latest numbers from the Canadian Real Estate Association (CREA).
The gain compounds advances of 10.3 per cent in February and 7.7 per cent in March.
Rock-bottom mortgage rates and prices that are 3.2 per cent lower than a year ago, on average, are the main reasons for the rebound, said Robert Kavcic, an economist at BMO Nesbitt Burns.
