Industry News

Canadian real estate sales remain on record pace

Average home prices up 11 percent so far this year

The Canadian Real Estate Association reported today that national existing home sales via the association's national multiple listing service in November rose to the fourth-highest seasonally adjusted monthly level on record.   And sales activity remains on track to set a new annual record in 2005, the association reported.   Transactions for the first 11 months of 2005 were half a percentage point lower than total MLS home sales recorded in 2004. The seasonally adjusted annual rate projects a monthly total over a 12-month period, adjusting for seasonal variations in real estate activity.   A seasonally adjusted total of 41,724 homes traded hands in November, representing a gain of 1.6 percent compared to the previous month. Higher activity in Alberta and Ontario more than offset fewer sales in British Columbia and Quebec, the association reported.   Year-to-date, transactions were running 4.9 percent ahead of levels recorded during the first 11 months of last year....

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