Industry News

Existing-home sales break records in Canada

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Sales of existing homes in Canada sold through the Multiple Listing Service set new monthly and quarterly records, according to June statistics released by The Canadian Real Estate Association. A seasonally adjusted total of 42,162 homes traded hands via MLS in June 2005 – up 4 percent from May. This represents the highest activity level on record for a single month on a national basis, and in the provinces of British Columbia and Alberta. Seasonally adjusted sales activity in June 2005 also surpassed the previous national monthly record – set in March 2004 – by 2.5 percent. Record sales activity in British Columbia and Alberta helped to push national sales to new quarterly sales records in the second quarter of 2005. On a seasonally adjusted basis, second-quarter sales totaled 122,895 – an increase of 8.2 percent from the first quarter and 2.9 percent higher than the previous quarterly record set one year earlier. Quarterly sales records were posted in...