Industry News

Resale real estate breaks records in Canada

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Sales of existing homes via the Multiple Listing Service set annual records in 2005, according to statistics released today by The Canadian Real Estate Association. Annual sales via the Multiple Listing Service in Canada totaled 483,250 units in 2005, up 4.9 percent from the 460,791 sales posted in 2004. Led by double-digit gains in British Columbia and Alberta, it was the fifth consecutive year in which unit sales set an annual record. Annual sales records were set in British Columbia, Alberta, Manitoba, Quebec, New Brunswick and Nova Scotia. Annual activity in Ontario was just two-tenths of a percentage point shy of the record set in 2004. A seasonally adjusted total of 40,226 homes traded hands in December 2005, representing a decline of 2.4 percent compared to the previous month. A monthly decline in sales activity in Alberta and Ontario more than offset an increase in transactions in British Columbia and Quebec. Seasonally adjusted activity also declined by 2.5 percent in the f...