Industry News

Canada’s hot real estate market continues

Home values post double-digit increase in June

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Home prices in Canada's major markets via the Multiple Listing Service rose considerably in June, while existing-home sales rose at a smaller pace, according to The Canadian Real Estate Association. The major-market MLS residential average price rose 10 percent year-over-year to $248,584, its sixth consecutive double-digit increase. The MLS residential average price set a new monthly record in a number of major markets, including Calgary, Edmonton, Regina, Saskatoon, Ottawa, Hamilton-Burlington, Montreal and Quebec City. Major-market home sales edged higher by 0.6 percent to 27,736 units on a seasonally adjusted basis, their fifth-highest level on record. Major-market activity during the second quarter of 2004 rose 7.8 percent compared to the first quarter and stood at its second-highest quarterly level on record. Sales in the first half of the year reached their second-highest semi-annual level on record and surpassed sales in the first half of 2003 by 9 percent. Sales in the firs...