Resale housing activity rose in November
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14/12/2010 5:55:00 PM
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National resale housing activity rose in November for the fourth consecutive month, continuing its return to normal levels.
The Canadian Real Estate Association (CREA) saw that seasonally adjusted home sales rise 4.8 per cent last month but is still well below the significantly higher activity a year ago in November. Sales are now 19.5 per cent higher than the July 2010 record, which was this year’s lowest point.
“Sales activity rose in many local markets but eased in others,” said Georges Pahud, CREA president. “Home buyers and sellers need to recognize that local and national market trends may differ and for that reason, they would do well to consult their local Realtor in order to understand how the housing market is shaping up in their market.”
Activity increased from October figures in two-thirds of all local markets, including eight of Canada’s most popular areas: Calgary (+2.6 per cent), Edmonton (+6.9 per cent), Fraser Valley (+10.5 per cent), London and St. Thomas (+6.5 per cent), Montreal (+8.2 per cent), Ottawa (+4.2 per cent), Toronto (+6.0 per cent), and Greater Vancouver (+11.3 per cent).