With improved weather, resale market activity rebounded in April in the GTA, with 8,762 actual sales equating to 83,100 seasonally-adjusted. Activity is lower than a year ago. According to the forecast of Will Dunning, this will continue for the next few months. Thus, during the next few months, reports will show significant year-over-year drops in resale volumes. According to Dunning's prediction:

"For the next few months, reports will show significant year-over-year drops in resale volumes. But, we shouldn’t be concerned, so long as the sales rate stays above 80,000 seasonally-adjusted."

New home sales weakened in April to 2,560 actual sales. Low-rise sales have been below 20,000 annualized for seven months, the 958 actual high-rise sales equate to 9,600 seasonally-adjusted. While this is far below the record pace of 2007, it is still strong in historic terms, Will Dunning notes in his Housing Market Digest.