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Latest News |
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New Canadian FSBO service launches
For-sale-by-owner site scores 506 listings in first month
Inman News | | | Canadian real estate sales remain on record pace
Average home prices up 11 percent so far this year
Inman News | | | Canada's resale real estate breaks records
New listings reach highest level in almost 16 years Monday, January 09, 2006
Inman News | | | Toronto real estate sales hit record
Neighborhoods north of downtown post largest gains
Inman News | | | |
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Existing-home sales through Canada's Multiple Listing Service set a monthly
record in August, according to statistics released by The Canadian Real Estate
Association. This was the second time that national sales have shattered all
previous monthly records in 2005.
A seasonally adjusted total of 43,444 homes traded hands via MLS in August, up
5.4 percent compared to the previous month and up 3.1 percent from the previous
national record for MLS sales for a single month ? which was set in June 2005.
Sales broke all previous monthly records in New Brunswick, and reached their
highest level on record for the month of August in British Columbia, Alberta,
Manitoba, Ontario, Quebec, Nova Scotia, and Newfoundland and Labrador.
The national MLS residential average price rose 11.9 percent year-over-year to
$246,222 in August ? its strongest year-over-year increase in 2005. Average
residential price reached its highest monthly level on record in British
Columbia and Prince Edward Island, and recorded its highest level ever for the
month of August on a national basis and in all other provinces.
"August 2005 was the best month on record for national sales of existing homes
via the Multiple Listing Service, and sales remain on track to set a new
national record in 2005," said CREA Chief Economist Gregory Klump. "Canada's
resale housing market continues to be strong and is showing few signs of
slowing down so far."
"According to recent research from Clayton Research Associates commissioned by
CREA, resale home purchases so far this year have generated also $8 billion in
spin-off spending. With interest rates expected to move only slightly higher
next year, housing activity will continue to make an important contribution to
our national economy," added Klump.
Seasonally adjusted new residential listings on MLS rose by 4.1 percent to
65,822 units in August compared to the previous month ? their highest monthly
level since October 1990. New listings shattered all previous monthly records
in New Brunswick, and set new records for the month of August on a national
basis, and in Ontario and Prince Edward Island. A bigger monthly increase in
sales activity than for new listings caused the national market for existing
homes to tighten slightly in August.
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