The National resale home sales in May were stable compared to the April results according to the Canadian Real Estate Association.

Not only the home sales were stable but for the first time, the sales posted the first year-over-year gain.

Vancouver and Ottawa sales activity was down but Edmonton and Toronto were higher.

On a national basis, sales and new listings were in a balanced market with sales-to-new listings ratio standing at 52.1 per cent, a measure of Real Estate market balance.

The national average price for home sales in May was $376,817, up 8.6 per cent from the same month last year.