April 15, 2020 / 1:26 PM / in 4 months

Canadian home sales tumble in March as coronavirus depresses activity

FILE PHOTO: A For Sale sign at a house for sale in Calgary, Alberta, Canada December 6, 2019. REUTERS/Todd Korol

TORONTO (Reuters) - Canadian home sales slumped 14.3% in March from February as economic turmoil related to the coronavirus outbreak pushed buyers and sellers to the sidelines over the second half of the month, the Canadian Real Estate Association said on Wednesday.

The industry group said actual sales, not seasonally adjusted, rose 7.8% from a year earlier, while the group’s Home Price Index was up 6.9% from March last year.

Reporting by Fergal Smith; Editing by Chizu Nomiyama

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