Industry News

Canada posts second-best year for home sales

Average home price climbs 11% in 2006

Home sales via the Multiple Listing Service in Canada totaled 483,609 units in 2006, a drop of 0.04 percent compared to 2005, The Canadian Real Estate Association reported today. Sales activity last year reached the second-highest level on record, the association reported, and was about 180 units shy of setting a fifth consecutive annual record. Seasonally adjusted sales activity in the fourth quarter of 2006 rose by 1.3 percent compared to the previous quarter, reaching 199,769 units, the association also reported. For the full year in 2006, sales activity increased 85.9 percent in the Northwest Territories compared to 2005, and rose 12.6 percent in Alberta, 10.8 percent in the Prairie provinces, 10.2 percent in Newfoundland and 10 percent in Saskatchewan. Sales shrank 9.1 percent in British Columbia, 3.3 percent in Nova Scotia and 1.1 percent in Ontario in 2006 compared to 2005 sales, the association reported. Average home prices increased 30.8 percent in Alberta in 2006 compar...