Another active year ahead for resale market
Increase in new listings helped to balance 2006 housing sales
Excerpt from an article by Theresa Boyle, Real Estate Reporter, Toronto Star
The number of resale homes changing hands in Canada has dropped off after four consecutive years of sales records, according to the Canadian Real Estate Association.
Sales activity for 2006 just missed setting a fifth consecutive annual record, states a home sales report from Canadian Real Estate Association, released Wednesday. “(Last year) was a fantastic year for MLS home sales in Canada, with activity falling 180 units short of matching the record set in 2005,” said Canadian Real Estate Association president Alan Tenant.
“Canadian Real Estate Association expects 2007 to be another active year for Canada’s resale housing market,” Tenant added. Annual sales via the Multiple Listing Service totalled 483,609 in 2006. That was a drop of 0.04% from the previous year.
The resale housing market was more balanced in 2006 because of an increase in new listings, but it was still a seller’s market, particularly in western provinces, the report states.
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