Industry News

Canadian real estate sales cool

Activity still on track to set annual record

Canada's major-market home sales fell 0.2 percent in September on a seasonally adjusted basis from the previous month, according to The Canadian Real Estate Association. Closed transactions via the Multiple Listing Service numbered 26,312 units in September, down from 26,370 sales the previous month. Sales amounted to 79,713 units in the third quarter, their fourth-highest quarterly level on record despite having slipped 3.8 percent from unusually strong activity in the second quarter. Sales in the first nine months of the year (239,664 units) were up 4.2 percent compared to the same period last year, so activity remains on track to set a new annual record. Sales surpassed all previous year-to-date records in a number of major markets, including Calgary, Edmonton, Toronto, Hamilton, Ottawa and Montreal. Seasonally adjusted residential new listings reached their highest quarterly level in 12 years (132,666 units) in the third quarter, having risen 2.1 percent compared to the previous ...