Sales of houses in Canada rose in June at the fastest pace in a year

In June 2018, home sales in Canada grew at the fastest pace for the year, Bloomberg reports. In Toronto, which is the leader in sales growth, the indicator increased by 17%. These data indicate the strengthening of the Canadian real estate market. Last month, the number of transactions increased by 4.1% after a decline to a 5-year low in May. The base price of houses decreased by 0.1% compared to May, but increased by 0.9% compared to the previous year. Complicating of the receipt of mortgage loans by the government, as well as raising of the interest rates by the central bank had a significant impact on the real estate market in Canada. Against this background, sales of houses in the country fell for most of 2018. In June, the average selling price in the country fell by 1.3% in annual terms to 495,797 Canadian dollars.

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