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Real estate: Home prices rebound as spring market picks up - BNN Bloomberg

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A recovery in Canadian home prices accelerated in April, as warming weather brought a surge of buyers back into the market to compete for a limited number of properties.

, up 1.6 per cent from March on a seasonally adjusted basis. Transactions surged 11.3 per cent from the month before, but new supply of homes is near a 20-year low, according to data from the Canadian Real Estate Association.

In addition, Canada’s population is swelling — more than a million newcomers arrived last year — bringing attention once again to a shortage of housing stock and prompting some buyers to make aggressive bids.

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