Industry News

Canada home sales still strong

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Real estate sales activity in Canada's major markets reached the second highest monthly level in September, surpassed only by transactions the previous month, according to industry statistics released last week. In September, a total of 29,544 homes traded hands via the multiple listing service, down 1.8 percent from August, according to The Canadian Real Estate Association, a real estate trade group. In the third quarter, a total of 88,357 homes traded hands in major markets, a 2.9 percent increase from the previous quarter, CREA reported. Actual home sales numbered 266,114 units in the first nine month of 2005, 4.1 percent above the previous record for the same period set in 2004. On a seasonally adjusted basis, sales activity in the first nine months of 2005 was up 4.4 percent compared the same period in 2004. Driven by sales activity in Vancouver, Calgary and Edmonton, strong third quarter results pushed the activity for the year to date in September to its highest level on reco...