1643 ET - Existing-home sales plummet in March in Toronto, Canada's largest urban market, reflecting consumer unease over U.S. trade policy and job security. The Toronto Regional Real Estate Board reports a 23% decline in March from a year ago, signaling that national sales likely fell for a third straight month. The board says households are reluctant to jump into the housing market due to U.S. trade policy, as well as a national election coming April 28. "If trade issues are solved or public policy choices help mitigate the impact of tariffs, home sales will likely increase," the board says. Canada faces no new U.S. tariffs from President Trump's new tariff policy, although Prime Minister Mark Carney warns of hard times ahead for the economy -- especially if the U.S. tips into recession, something Carney fears. (paul.vieira@wsj.com; @paulvieira)
(END) Dow Jones Newswires
April 03, 2025 16:43 ET (20:43 GMT)
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