While it isn’t unusual for sales to rise between April and May due to seasonal factors, the 12% increase last month was encouraging as it potentially signalled the beginning of some stability for demand.

Home sales have been impacted this year by heightened economic uncertainty as a result of a volatile trade conflict initiated by the U.S.

Theoretically, housing demand should be rising as reduced prices and lower interest rates this year have led to an improvement in homeownership affordability.

Furthermore, the rapid level of population growth over the past three years has created an unprecedented amount of demand for housing, the vast majority of which has been directed into the rental market, but a portion is on the sidelines waiting to enter the ownership market.

This may be the best buying window in years. Don’t miss the moment.