OTTAWA, April 15 (UPI) -- Sales of existing Canadian homes rose 7 percent in March to 31,135 units, but the numbers were down 13.7 percent on an annual basis, the trade said Wednesday.
The Canadian Real Estate Association said in a release March's increase was the second consecutive monthly gain following a 10.3 increase in February.
"The number of transactions in March stands 18 percent above levels reported in January 2009 when activity sank to the lowest level in a decade," the association said in a news release.
"Housing markets are starting to show signs of buyer interest because of lower prices and interest rates," association President Dale Ripplinger said in the release.
The association said the average residential price for homes sold in March was $288,641, down 7.7 percent from March 2008.
"The national average price continues to be skewed downward by lower activity in some of Canada's more expensive housing markets and by fewer transactions at the higher end of the price spectrum," the release said.