Industry News

Existing-home sales top records in Canada

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Existing-home sales via Canada's Multiple Listing Service set a record for the month of July and remain on track to set an annual record for 2005, according to statistics released by The Canadian Real Estate Association. A seasonally adjusted total of 40,973 units were sold through MLS in July, down 2.7 percent from June but up 5.9 percent from a year ago. Sales activity also set new records for July in British Columbia, Alberta and New Brunswick. The number of actual (unadjusted) transactions posted during the first seven months of 2005 outpaced sales for the same period in 2004 by 1.4 percent, the association reported. Year-to-date, unadjusted sales increased from the same period last year in every province except Saskatchewan, Ontario, and Newfoundland and Labrador. Seasonally adjusted new MLS residential listings totaled 62,975 units in July, down slightly (-0.8 percent) from June. A bigger monthly decline in sales than for new listings caused the national market for existi...