Industry News

Existing-home sales break records in Canada

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National sales of Canada's existing homes sold through the Multiple Listing Service set new records in the third quarter of 2005, according to statistics released Monday by The Canadian Real Estate Association. MLS home sales reached their highest quarterly level on a national basis, and in all provinces except Prince Edward Island and Newfoundland. On a seasonally adjusted basis, a total of 126,890 homes were sold via MLS in Canada during the third quarter, up 3.3 percent over the previous record set in the second quarter of 2005. For September, a seasonally adjusted total of 42,254 homes traded hands via MLS, which was their second-highest monthly level on record. Last month's activity was just 2.7 percent lower than the record number of transactions set in August 2005. Sales activity in September also set a monthly record in Alberta and Nova Scotia. MLS home sales for the first nine months of 2005 continued to run ahead of sales recorded during the same period in 2004. At 383,574...