Home Sales Remain Historically Strong

National home sales continued running at historically strong levels in October 2020, says the Canadian Real Estate Association (CREA). National home sales edged back 0.7 per cent on a month-over-month (m-o-m) basis in October from September's all-time record for monthly sales, while actual (not seasonally adjusted) activity was up 32.1 per cent year-over-year. The number of newly-listed properties rose 2.9 per cent from September to October. The small change from September to October reflected gains in about half of all local markets offset by declines in the other half. Among the larger markets, activity was up on the month in Montreal, QC; the Fraser Valley, BC; and Calgary and Edmonton, AB. By contrast, sales fell back in Ontario in the Greater Toronto Area (GTA), Hamilton-Burlington, and Ottawa. So far this year, 461,818 homes have traded hands over Canadian MLS Systems, up 8.6 per cent from the first 10 months of 2019. In fact, it was the second-highest January-October sales figure on record, trailing only 2016.