Home resales jump 0.3 per cent in April

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Ottawa realtors sold slightly more houses in April than a year earlier as the home resale market showed signs of emerging from a slow start to 2013.

Home resales clocked in at 1,573 last month, according to numbers the Ottawa Real Estate Board released Friday, up by five from the 1,568 sold in April of 2012. That represents a 0.3 per cent year-over-year increase.

The April numbers reverse the trend established during the first three months of 2013, which all saw decreases of around 10 per cent when compared to the same periods a year earlier.

“With the late onset of warmer weather, the traditional “spring market” saw its upswing a little later this year,” said Tim Lee, president of the OREB, in a news release. “With interest rates continuing to be low, Ottawa remains a healthy, stable market.”

The average sale price also went up, increasing 2.1 per cent to $371,565.