Canadian home sales posted a modest increase in June, following a robust jump the previous month, and prices remained unchanged, data from the Canadian Real Estate Association showed.

Home sales increased 0.5% month-over-month in June, and were up 0.9% on an annual basis, without seasonal adjustment. The industry group’s Home Price Index was unchanged on the month and was down 3.6% year-over-year.

Newly listed properties declined 1.3% month-over-month. The sales-to-new listings ratio rose to 50.2% in June from 49.3% in May, moving above the 50% mark for the first time this year.

Shaun Cathcart, CREA’s senior economist, said, “June’s housing numbers continued to build momentum following the late start to the year in May, with virtually every metric moving in the right direction.”

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.