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Resales slow dramatically in May after a hot April

<br><br>OTTAWA -- Home sales fell 9.5% in May from the previous month as Canada's housing market began to wind down from record activity. Sales totalled 37,576 on a seasonally adjusted basis, down from 41,502 in April, due to a decline in purchases in Toronto, Vancouver and Ottawa, the Canadian Real Estate Association said this week.<br><br>

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OTTAWA -- Home sales fell 9.5% in May from the previous month as Canada's housing market began to wind down from record activity. Sales totalled 37,576 on a seasonally adjusted basis, down from 41,502 in April, due to a decline in purchases in Toronto, Vancouver and Ottawa, the Canadian Real Estate Association said this week.