Home sales in Canada were up 7 per cent in march compared with the previous month following a 10.3 per cent increase month on month gain recorded in February from January.

Even with these improvements sales activity is still down 13.7 per cent from a year ago but this Real estate Market is showing encouraging signs of moving away from the previous downturn in the last several months.

Affordability is greatly helping  the Real Estate Sales across Canada and once the job marker stabilizes prices should start to rebound as well.

The average price of a Toronto homes was $362,050 in March, down 4.8 per cent from the same time one year ago. According to CREA, 6,171 Toronto homes were sold, a drop of 6.9 per cent from the same month last year.

It should be noted that the decline in home prices is slowing, it still remains a buyers market, however with record high affordability, low mortgage rates and economic growth returning to increased levels, potential buyers will start to take part in Real estate right across Canada.