Canadian home sales rose 5.5% month-over-month in May, marking the first significant increase this year. In the Greater Toronto Area, sales increased 6.3% year-over-year, while average home prices fell 4.6% to about $1.07 million. Buyers benefit from plentiful listings and lower prices, especially in Toronto's east, west, and central areas. However, rising sales and declining inventory may soon push prices up, suggesting buyers should act promptly.
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