Industry News

Canadian real estate sales maintain record pace

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The rate of Canadian home sales via the country's multiple listing service dropped 7.1 percent in August compared to the same month in the prior year, though year-to-date home sales are still on a record pace, The Canadian Real Estate Association reported today. Seasonally adjusted home sales numbered 39,725 units in August 2006, which was up 0.7 percent from July. Monthly increases were reported in Saskatchewan, Ontario, Quebec, New Brunswick, Nova Scotia and Newfoundland, while sales slowed in British Columbia and Alberta. MLS home sales in Saskatchewan set a record for the highest number of units sold in any month this decade, the association reported, and transactions also set records for the month of August in Alberta and Newfoundland. Sales activity in the first eight months of this year was 2 percent higher than the same period in 2005, with all provinces except British Columbia and Ontario experiencing year-to-date gains in transactions compared with last year. Seasonally adjus...