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Canadian home sales rise 4.6% in Oct

Posted by Arshad Rashed on Friday, November 26th, 2010 at 8:52am.

The Canadian housing resale market was almost five per cent more active in October compared to the previous month,  the Canadian Real Estate Association says.

The 4.6 per cent increase in sales on the agency's Multiple Listing Service follows similar rises in September and August. As a result, activity is 13.3 per cent higher compared to July, the low point for 2010. "National sales activity is now running almost halfway between the highs and lows posted between late 2008 and late 2009, CREA chief economist Gregory Klump said. This suggests that the Canadian housing market may be starting to  normalize."

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