Canada home sales fall in April as market feels the chill of govt cooling measures

Ottawa

CANADIAN home resales fell in April as a government move to cool the long housing boom sent buyers to the sidelines and sparked a spike of new listings, the Canadian Real Estate Association said on Monday.

Sales dropped 1.7 per cent in April from March's record level while listings rose 10 per cent, the industry group said. Prices, which take longer to adjust, were up 19.8 per cent from a year ago, according to the group's home price index.