CREA reports home sales down in March, average price up 11.2 per cent from year ago

The Canadian Real Estate Association reports that home sales fell 16.3 per cent from a record high a year ago.

But prices were up 11.2 per cent on a year-over-year basis to an average of just over 796-thousand-dollars.

The drop in sales came as the number of newly listed homes fell 5.5 per cent on a month-over-month basis in March.