Industry News

Major-market real estate sales climb in Canada

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Canada's major-market home sales grew 1.4 percent in November on a seasonally adjusted basis from the previous month, according to The Canadian Real Estate Association. Closed transactions via the Multiple Listing Service numbered 25,558 units in November, up from 25,213 in October. Seasonally adjusted sales reached their highest level on record for the month of November, and activity in the first 11 months of this year was 2.6 percent higher than for the same period last year. Sales surpassed all previous year-to-date records in a number of major markets, including Calgary, Edmonton, Winnipeg, Toronto, Hamilton and Ottawa. Seasonally adjusted residential new listings remained at historically strong levels, and reached their highest level on record for the month of November. Year-to-date, new listings stood 10 percent higher than for the same period last year. The monthly increase in sales and a decline in listings caused the market to tighten in November. Major-market MLS residen...