Improving sales in April were not enough to offset earlier declines, as year-to-date sales remained three per cent below last year’s. At the same time, new listings continued to improve, helping bring up inventory levels. However, with 149 units available in April, inventory remains well below long-term trends. With two and a half months of supply, conditions remain relatively tight, supporting further price gains. As of April, the unadjusted benchmark price was $627,600, over one per cent higher than March and in line with levels reported last April.
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