Industry News

Canadian home sales drop in Q3

But year-to-date sales continue at record pace

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Third-quarter sales via the Multiple Listing Service in Canada dropped 6 percent compared to third-quarter 2005 sales and fell 2.5 percent compared to second-quarter 2006 sales, The Canadian Real Estate Association trade group reported today. Sales activity for the first nine months of the year remained slightly ahead of levels recorded during the same period in 2005, and remains on a record pace, the association also reported. Seasonally adjusted home sales activity via the Canada's major markets totaled 82,119 units in the third quarter of 2006, down 2.5 percent compared to the second quarter. The quarterly decline in sales activity was biggest in Vancouver, Calgary and Toronto, but was partially offset by a quarterly increase in transactions in Edmonton and Hamilton, among other major markets, the association announced. Sales activity in Edmonton and Thunder Bay reached the highest quarterly level on record. Transactions for the year to date in September were 0.7 percent ahead of ...