Industry News

Canadian markets shatter real estate records

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Resale housing activity in Canada's major markets set new all-time monthly and quarterly records in June 2005, and are running ahead of sales activity in the first half of last year, according to statistics released today by The Canadian Real Estate Association. On a seasonally adjusted basis, the number of homes trading hands via the Multiple Listing Service in Canada's major markets in June reached the highest monthly level in history with 29,347 transactions. This represents an increase of 3 percent compared to May and is 0.8 percent higher than its previous monthly peak in July 2003. Strong monthly sales were recorded throughout the second quarter of 2005. On a seasonally adjusted basis, a total of 85,924 homes traded hands via MLS in major markets in the second quarter of 2005 – an increase of 8.6 percent compared to the first quarter of 2005 and 3.4 percent higher than the previous quarterly high reached in the second quarter of 2004. Actual home sales numbered 179,...