Industry News

Existing-home sales in Canada smash record

Double-digit price growth continues for fifth month
Published on Jun 30, 2006

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 month on record in May. New listings totaled 84,896 units last month, up 7.2 percent from a year ago, and are up 6 percent from the previous peak reached in March 2006. Seasonally adjusted MLS residenti...

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