Industry News

Canadian real estate sales hit record

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The Canadian Real Estate Association reported today that actual home sales via the Multiple Listing Service in Canada's major markets rose 4.4 percent, topping the previous record set last May. And sales activity for the first five months of the year was up 5 percent compared to the same period last year. Existing-home sales activity in Canada's major markets continued to soar in May, with actual sales activity breaking all previous records. The average home price increased 12.9 percent from May 2005 to May 2006, reaching a record $273,148 (in U.S. dollars), the association also reported. On a seasonally adjusted basis, transactions rose to 28,441 units in May -- up 2.4 percent compared to April. And 37,460 total units were sold in May. The seasonally adjusted statistics are a projection of a monthly total over a 12-month period, adjusted for season fluctuations in sales activity. New year-to-date sales records were set in Calgary, Edmonton, Saskatoon, Winnipeg, Toronto, Lo...