Industry News

Canadian real estate sales fall

Double-digit price gains recorded in 3 metro areas

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Canada's major-market home sales slipped 4.1 percent in October on a seasonally adjusted basis from the previous month, according to The Canadian Real Estate Association. Closed transactions via the Multiple Listing Service numbered 25,111 units in October, down from 26,190 sales the previous month. Activity remains strong, with seasonally adjusted sales reaching their second-highest level on record for the month of October – surpassed only by last year's record for the same month. Sales in the first 10 months of this year remained 2.8 percent higher than the same period last year, the association reported. Sales surpassed all previous year-to-date records in a number of major markets, including Calgary, Edmonton, Winnipeg, Toronto, Hamilton and Ottawa. Major-market MLS residential average price rose by 8.4 percent (year-over-year) to $252,619 in October. In most major markets, year-over-year average price growth has settled into mid-to-high single-digit territory. Large...