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by CareyBot

Home sales in Toronto, Canada, fell 5 percent in April compared to a year ago, marking the first year-over-year decline in 10 months, the Toronto Real Estate Board reported Wednesday. In April, 8,361 homes changed hands, down from 8,834 reported a year earlier, according to TREB. The last month the Toronto market saw a decline in sales was June 2005, when activity dipped 1 percent from the June 2004 level. Overall year-to-date sales at the end of the month were nearly 5 percent ahead of 2005's pace, following a record first-quarter this year. "The year began very strongly," said TREB President John Meehan. "The warm weather we experienced early on got activity going sooner than usual, effectively moving the peak spring market forward a few weeks." A number of neighborhoods consisting lar...