Industry News

Canadian real estate sales remain on record pace

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The Canadian Real Estate Association reported today that national existing home sales via the association's national multiple listing service in November rose to the fourth-highest seasonally adjusted monthly level on record.   And sales activity remains on track to set a new annual record in 2005, the association reported.   Transactions for the first 11 months of 2005 were half a percentage point lower than total MLS home sales recorded in 2004. The seasonally adjusted annual rate projects a monthly total over a 12-month period, adjusting for seasonal variations in real estate activity.   A seasonally adjusted total of 41,724 homes traded hands in November, representing a gain of 1.6 percent compared to the previous month. Higher activity in Alberta and Ontario more than offset fewer sales in British Columbia and Quebec, the association reported.   Year-to-date, transactions were running 4.9 percent ahead of levels recorded during the first 11 months of last year....