Industry News

Canadian home sales still on record pace

October home prices rise 10% from a year ago

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Seasonally adjusted home sales in Canada numbered 38,303 units in October, the Canadian Real Estate Association reported today, which is down 0.8 percent compared to September. Home sales activity via the nation's Multiple Listing Service system is still on track to set a new annual record. Sales activity for the first 10 months of the year remained 0.7 percent above levels recorded for the same period last year, and the number of transactions for the first 10 months year are ahead of 2005 levels in all provinces except British Columbia and Ontario, according to the report. Seasonally adjusted new MLS listings totaled 67,122 units in October -- a 1.9 percent since September but the fifth-highest monthly level on record. New listings reached the highest level in a decade in British Columbia, and their third-highest level on record in Alberta. "Small monthly declines in British Columbia, Ontario, and Quebec more than offset an increase in activity in New Brunswick," the association ...