Industry News

Canadian real estate posts record first quarter

Sales activity picks up in Atlantic provinces

Canada's existing-home sales via the Multiple Listing Service reached their highest quarterly level on record in the first quarter of 2006, according to statistics released by The Canadian Real Estate Association. A seasonally adjusted total of 125,142 homes were sold through MLS in the first quarter of 2006, up 2.4 percent from levels recorded in the fourth quarter of last year, and two-tenths of a percentage point above its previous quarterly record set in the third quarter of last year. New quarterly records were set in Alberta, Nova Scotia, Prince Edward Island, and Newfoundland. "MLS home sales are running strong, reaching the highest level of any quarter on record for both the number of units sold and total dollar volume in the first quarter of 2006," said Alan Tennant, president of The Canadian Real Estate Association. "Housing markets are in good shape overall, and there continues to be high consumer demand for resale housing right across the country." On a seasonally adjusted...