Toronto home sales rise the most in four months as affordability improves

Greater Toronto Area home sales in May posted their biggest increase in four months, and prices edged higher as homebuyers took advantage of the recent improvement in affordability, Toronto Regional Real Estate Board data showed on Wednesday.Seasonally adjusted sales increased 8.4 per cent on a month-over-month basis to 4,693 units, the second straight month of gains and the biggest increase since January. TRREB’s home price index edged up 0.1 per cent to $992,800, which was the first increase since November.