The Canadian Real Estate Association says the number of home sales in March rose 1.7 percent compared with a year ago.
The increase came as the average price of a home sold last month amounted to $698,530, up two percent from March 2023.
On a month-over-month basis, CREA says home sales in March were up 0.5 percent.
In its updated outlook for the year, CREA says it now expects 492,083 homes to trade hands this year, a 10.5 percent increase from 2023.
The national average home price is also forecast to climb 4.9 percent on an annual basis to $710,468 in 2024.
In its forecast released in January, CREA had expected a 10.4 percent increase in home sales this year and a 2.3 per rise in the average home price for 2024.
