Industry News

Canada’s resale real estate breaks records

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Existing-home sales through Canada's Multiple Listing Service set a monthly record in August, according to statistics released by The Canadian Real Estate Association. This was the second time that national sales have shattered all previous monthly records in 2005. A seasonally adjusted total of 43,444 homes traded hands via MLS in August, up 5.4 percent compared to the previous month and up 3.1 percent from the previous national record for MLS sales for a single month – which was set in June 2005. Sales broke all previous monthly records in New Brunswick, and reached their highest level on record for the month of August in British Columbia, Alberta, Manitoba, Ontario, Quebec, Nova Scotia, and Newfoundland and Labrador. The national MLS residential average price rose 11.9 percent year-over-year to $246,222 in August – its strongest year-over-year increase in 2005. Average residential price reached its highest monthly level on record in British Columbia and Pri...