Home prices up 2.2% year-over-year as April sales cool, CREA reports

Home sales in Canada fell year-over-year in April, while the average sale price rose to $695,412, a 2.2% increase. Sales edged up 0.7% from March on a seasonally adjusted basis. Global economic uncertainty and higher mortgage rates are expected to keep the housing market rebound muted, though some upward momentum remains.