Industry News

Canadian real estate shatters records

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Existing-home sales in Canada's major markets set a monthly record in August, and year-to-date sales pulled farther ahead compared to last year, according to statistics released by The Canadian Real Estate Association. Seasonally adjusted sales activity via the Multiple Listing Service in Canada's major markets reached its highest monthly level ever in August with 30,114 transactions, up 4.8 percent from July and 3 percent above its previous monthly peak in June 2005. Seasonally adjusted sales also reached their highest monthly level on record in Edmonton, Hamilton and Burlington. Activity surpassed all previous records for the month of August in many major markets, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montreal, Quebec City, Halifax and St. John's. Actual home sales in the first eight months of 2005 numbered 238,052 units, up 3.3 percent compared to activity over the same period last year. Year-to-date sales activity advanced in Vancouver, Calgary, Edmonton, ...