Conference Board of Canada releases Resale numbers
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29/08/2010 10:00:00 AM
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Existing home sales fell 11 per cent between June and July, 31 per cent year over year, the Conference Board of Canada reported in a release late last week.
Resales were down from figures last year in all 28 markets. In 26 of the areas, the board reported at least a 10 per cent drop.
Toronto and Vancouver contributed the biggest declines posting 13.6 per cent and 20.1 per cent drops, respectively.
"I'd be hesitant to predict another big drop ahead," Conference Board economist Robin Wiebe said. "Canada's economic conditions seem sound, so conditions are in place for balanced markets to persist."
July resales in the 28 markets reached 271,717 units.