Industry News

Canadian home sales nearly smash record in ’06

Alberta markets continue to stand out

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Sales of existing homes in Canada's major markets reached the second-highest annual level on record in 2006, falling just 242 units shy of the record set in 2005, according to statistics released by The Canadian Real Estate Association. Annual sales via the Multiple Listing Service in Canada's major markets totaled 336,271 units in 2006, which is off just 0.07 percent from levels recorded in 2005. Strong gains in activity in Calgary and Edmonton -- and to a lesser extent in Ottawa and Montreal -- helped to offset fewer transactions in Vancouver. A number of major markets set new annual sales records in 2006, including Calgary, Edmonton, Saskatoon, Winnipeg, Sudbury, Ottawa, Montreal and Quebec City. Seasonally adjusted sales activity in the fourth quarter of 2006 rose by 2.4 percent to 84,183 units, largely a result of a surge in activity in Calgary and Toronto. New quarterly records for sales activity were set in Edmonton, Saskatoon, Sudbury and London. In the month of December, maj...