May 15, 2017 / 1:10 PM / a year ago

Canada home resales fall in April as market cooling begins -CREA

OTTAWA, May 15 (Reuters) - Resales of Canadian homes fell 1.7 percent in April from record highs in March as new listings spiked, the Canadian Real Estate Association said on Monday in a report that suggested a long-awaited slowdown in housing has begun.

The industry group said actual sales, not seasonally adjusted, were down 7.5 percent from April 2016, while home prices were up 19.8 percent from a year ago, according to the group’s home price index. (Reporting by Andrea Hopkins in Ottawa and Fergal Smith in Toronto Editing by W Simon)

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