Industry News

Canada’s major-market real estate breaks records

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Sales of existing homes in Canada's major markets set new annual records in 2004, according to The Canadian Real Estate Association. Home sales via the Multiple Listing Service in Canada's major markets continued to return to more normal levels in December 2004. Seasonally adjusted existing-home sales numbered 25,595 units in December, which represents a decline of 1.7 percent compared to the previous month. The number of sales transactions exceeded 25,000 units for the 11th month in a row – their longest monthly run above that level ever. Housing demand remained unusually strong throughout 2004 and major-market MLS home sales set a new annual record in 2004 at 316,386 units. Annual sales were up 2.7 percent over the previous record set in 2003. It was the sixth consecutive year in which major-market unit sales surpassed all previous annual records. Sales activity surpassed all previous annual records in a number of major markets, including Calgary, Edmonton, Toronto, Hamil...