Supply Constraints Push Toronto Home Prices Higher

        17:21 EDT - BMO Capital Markets says Toronto home sales were a modest 1.8% above year-ago levels in April, leaving the level of activity almost right on the 10-year average. But prices are pushing higher at a brisk pace, with the average transaction price now up more than 10% year-over-year. BMO cays the Toronto Real Estate Board is citing a lack of active listings, which were down more than 8.4% yoy in the month. "Note the disparity in average price growth between the tight single detached market (+11.3% y/y) and more amply-supplied condos (+2.9% y/y)," firm adds. (don.curren@wsj.com; @dbcurren)
        (END) Dow Jones Newswires

        May 06, 2014 17:22 ET (21:22 GMT)