National home sales activity edged higher on a month-over-month basis in October. Figures released this morning by the Canadian Real Estate Association confirmed that aational home sales rose 0.7% from September to October. Actual (not seasonally-adjusted) activity stood 7% above October 2013 levels.
CREA also reported that the number of newly listed homes rose 0.8% from September to October, and that its MLS Home Price Index rose 5.5% year-over-year in October. The national average sale price rose 7.1% on a year-over-year basis in October.
This marks the sixth consecutive month of stronger resale housing activity compared to a quiet start to the year, and the strongest activity for the month of October since 2009.
