Montreal home sales up in March as prices rise across all housing types
BNN Bloomberg
The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 14.2 per cent in March compared with the same month last year.
The association says home sales in the region totalled 4,488 for the month, up from 3,930 in March 2023.
But it says this level of transactional activity remains under the historical average recorded for this time of year.
The median price for all housing types was up year-over-year, led by a 5.6 per cent rise for the price of a single-family home at $565,000 last month.
Shares advanced Wednesday in Europe and Asia as oil prices fell back slightly despite a barrage of attacks by Iran on its Gulf neighbours.
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Oil prices resumed their rise on Tuesday because of the war with Iran, but U.S. stocks held steadier this time around.
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Markets in Canada and the U.S. were up in late-morning trading on Tuesday despite the ongoing war in Iran.
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Oil tankers are crossing the Strait of Hormuz and Iran’s actions to choke traffic through the shipping route have not hurt the U.S. economy, White House economic adviser Kevin Hassett told CNBC on Tuesday, reiterating the Trump administration’s position that the war should be over in weeks, not months.
Canada’s annual inflation rate slowed in February to 1.8 per cent, but many economists believe the new Statistics Canada data may be the dip before a spike driven by oil prices and the war in Iran.
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