Sales of houses in Canada grew with the highest pace in June, Bloomberg reports. Growth in Toronto was 17%, which is a sign of market strength.

Number of transactions increased by 4,1% compared with May, when they fell to five-year low. Benchmark price fell 0,1% compared with last month, but grew by 0,9% compared with last year.

Sales were falling for the most part of 2018 after government made it more difficult to get mortgages, and central bank raised interest rates. These measures influenced market a lot, especially expensive property sector.

It seems that market is stabilizing, and strong labor market supports demand.

Sales grew in 60% of country’s markets, including 1% growth in Montreal. Vancouver sales dropped 1,3%.

Average selling price declined by 1,3% in June compared with the last year and was at C$495797.

Sales fell by 11% compared with 2017 and were 7% below 10-year average in June.