Industry News

Canadian real estate sales remain near record pace

Sales dip but set monthly records in 3 provinces

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The rate of home sales via the Canadian multiple listing service dropped 3.1 percent from June to July and sales activity for the first seven months of the year is at a record pace, the Canadian Real Estate Association reported today. A seasonally adjusted total of 39,319 homes were sold via MLS in July 2006. Unadjusted sales activity fell 3.7 percent in July compared to July 2005, but sales transactions from January through July were 3.1 percent ahead of levels for the same period in 2005. Year-to-date sales activity remains above levels for the first seven months of any other year on record in all provinces except British Columbia and Ontario. Monthly increases in sales activity in July in Nova Scotia and Prince Edward Island were more than offset by fewer transactions in all other provinces -- particularly in Alberta, Ontario, and British Columbia. Despite posting fewer sales in July than during the previous month, transactions reached the highest levels on record for the month of J...