TORONTO, May 5 (Reuters) - Greater Toronto Area home sales rose by the most in nine months in April and prices stabilized as greater affordability enticed more homebuyers into the market, Toronto Regional Real Estate Board data showed on Tuesday.
Here are some details:
o Seasonally adjusted sales increased 6.1% last month from March to 4,829 units, marking the second straight month of gains and the largest since July last year.
o The board's home price index was barely changed month-over-month, after seasonal adjustment, at C$929,300 ($682,105.11), ending a streak of 10 straight monthly declines.
o The Greater Toronto Area includes Toronto, Canada's most populous city, and four surrounding regional municipalities.
o "We have experienced an uptick in home buying activity so far this spring," the board's president, Daniel Steinfeld, said in a statement. "Buyers have taken advantage of more affordable housing market conditions on the back of lower home prices."
o On a year-over-year basis, sales rose 7%, while new listings declined 9.3% and the price index was down 6.6%.
($1 = 1.3624 Canadian dollars)
(Reporting by Fergal Smith, Editing by Franklin Paul)
By Fergal Smith
