Canadian home sales remain strong

Reprinted courtesy of The Globe and Mail

Canadian home sales dipped slightly in August as the market took a breather after strong spring and summer sales, according to statistics released Tuesday by the Canadian Real Estate Association.

Year-over-year, the number of sales was up 18.5 per cent from August, 2008.

“On a seasonally adjusted basis, national …[resale] home sales held steady. At 42,426 units, seasonally adjusted activity came within six-tenths of 1 per cent of levels in the previous month,” CREA said.

“Seasonally adjusted activity in Alberta and Quebec declined, offsetting activity gains in British Columbia.”

Economists had expected that the pace of resale activity might ease a bit between July and August “following a 61 per cent blast-off in the prior six months,” Douglas Porter, deputy chief economist of the Bank of Montreal, said in his morning research note.

Ben Sage, Sales Representative. Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON