Industry News

Canada’s existing-home sales cool

Markets feel impact of higher interest rates

Although Canadian existing-home sales via the Multiple Listing Service dipped in October, they remain on track to set an annual record this year, according to statistics released by The Canadian Real Estate Association. The number of transactions posted during the first 10 months of 2005 outpaced sales for the same period in 2004 by 4.6 percent. A seasonally adjusted total of 41,105 units were sold through the MLS in October, down from 42,173 in September. Despite having declined by 2.5 percent compared to the previous month, sales activity stood at its sixth-highest level on record. Sales activity was up compared to September in Manitoba, New Brunswick and Prince Edward Island, and was unchanged compared to last month in Newfoundland. These gains were more than offset by fewer sales in all other provinces. Sales activity set a record for the month of October on a national basis and in British Columbia, Alberta, Manitoba, Ontario, New Brunswick and Nova Scotia. Year-to-date, actual (...

Comments