The benchmark figure takes into account homes of similar characteristics such as size, location and the age of the property. The real estate industry considers it a more accurate gauge because it isn’t skewed by a particular housing category or price range. In Vancouver, where market cooling measures were introduced last summer, housing sales returned to near-record levels in May after several chilly months. Home sales rose 22.8 per cent compared with the previous month and 23.7 per cent above the 10-year average for May. TREB numbers showed the boost in home choices didn’t increase the number of transactions in the Toronto region in May.

Source: thestar June 05, 2017 09:00 UTC