|
According to an industry report released Tuesday, home sales in Canada during the third quarter of 2007 descended 4.1% from the previous quarter's record levels, but there still remained strong, Canadian Real Estate Association (CREA) report indicated that the quarterly decline was mainly caused by fewer unit sales in Edmonton, Calgary and Montreal.
However, markets in Vancouver, Victoria, Winnipeg, Toronto, Kitchener-Waterloo, Ont., Ottawa and Saint John, N.B. have become tighter since the year began according to the report. Substantial increase in new listings caused markets in Calgary, Edmonton, Saskatoon and Regina to become more balanced. The report said that on a year-to-date basis, sales activity is well ahead of levels recorded last year. There were 291,003 units of sales in Canada's major markets in the first nine months of 2007, an increase of 8.7 per cent from the same period in 2006. The CREA statistics indicated that year-to-date transactions remained above year-ago levels in almost all of the major markets surveyed.
In the major markets, the residential average price increased 11.9% year-over-year to $329,113 in the third quarter. Vancouver, Calgary, Regina, Saskatoon, Quebec City and St. John's, N.L., as well as the Ontario cities of Sudbury, Windsor, St. Catharines and Kitchener-Waterloo, all posted the highest quarterly average prices on record.
|
