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Canadian Real Estate group reports record Q1 sales

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Seasonally adjusted home sales via the Multiple Listing Service in Canada's major markets reached the highest quarterly level on record in first-quarter 2006, the Canadian Real Estate Association reported today. Seasonally adjusted MLS home sales totaled 86,861 units in the first quarter, a gain of 2.3 percent over the previous quarter and 0.1 percent above the previous record set in third-quarter 2005. Transactions in the first quarter were driven up by a record level of activity in Calgary, Edmonton, and Toronto, the association reported. On a seasonally adjusted monthly basis, 28,949 homes traded hands via the MLS in March, down 0.2 percent from February. The seasonally adjusted rate projects a monthly total over a 12-month period, accounting for seasonal fluctuations in sales activity. Seasonally adjusted new residential listings on the MLS reached 137,493 units in first-quarter 2006, up 1 percent from fourth-quarter 2005 and reaching the highest quarterly level since second-quarte...