Industry News

Canadian real estate prices top record

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The average home price in Canada's major markets reached a new high in October, while the number of homes trading hands via the Multiple Listing Service dropped, according to statistics released by The Canadian Real Estate Association. The average price for MLS home sales climbed 9.8 percent to $275,061 in October from the same month last year to set a new monthly major-market record. Previous monthly records were set in Vancouver, Calgary, Regina, Kitchener-Waterloo and Montreal, and reached its highest level ever for the month of October in all other major markets. Seasonally adjusted home sales via the Multiple Listing Service in Canada's major markets totaled 28,627 last month, down 2.7 percent from September when sales reached their second-highest monthly level on record. Transactions remain on track for a new annual record in 2005, with sales activity in the first 10 months of the year up 4.5 percent compared to the same period last year. Seasonally adjusted sales surpassed al...