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by CareyBot

Canadian existing-home sales via the Multiple Listing Service surged to a new high in May, according to statistics released today by The Canadian Real Estate Association. Actual (unadjusted) sales activity totaled 54,184 units last month -- the highest activity level for any month on record -- and is an increase of 5.5 percent compared to the previous record set in May 2005. Seasonally adjusted sales activity posted a monthly increase of 2.9 percent due mainly to higher sales in Ontario and British Columbia. Transactions reached their highest monthly level on record in New Brunswick, and set a record for the month of May on a national basis and in Alberta, Saskatchewan, Quebec, Nova Scotia and Prince Edward Island. Actual (unadjusted) new listings also reached the highest level for any mo...