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Average Canadian home price falls as sales hit near 2-year high

The Canadian Real Estate Association (CREA) says the average price of a Canadian home fell last month for the first time since January, but the number of sales was the highest in nearly two years.

CREA says the national average home resale price in March was $369,677.

That was down from just under $373,000 in February and down from $371,591 in March 2011.

Actual home prices varied widely, depending on the city and the type of property sold.

The association says the number of sales conducted through the industry’s MLS system was up 2.5 per cent from February.

CREA says that made last month the businesses sales month since April 2010.