Toronto home sales fall for second month in March; prices rise

Greater Toronto area home sales fell in March for a second straight month, while prices increased, keeping a housing market recovery in check at a time of historically high borrowing costs, data showed on Wednesday. Seasonally adjusted sales declined 1.1% in March from the previous month after falling 11.5% in February, according to Toronto Regional Real Estate Board (TRREB) data. Home sales rose strongly in December and January, pointing to a revival in the market in anticipation of interest rate cuts by the Bank of Canada.