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Home resales climb again


Sales of existing homes in Canada rose in October from September, rising for a third straight month, the Canadian Real Estate Association said on Monday.

The industry group said 35,714 homes changed hands in October, up 4.6 percent from September, as sales rose in three quarters of markets tracked by the association. However, sales are down 21.6 percent from a year ago.

CREA said sales activity in October stood halfway between the recessionary low reached in December 2008, and the record level activity posted in December 2009, suggesting further evidence that the market is returning to normal.

CREA said the national average price in October rose 0.7 percent from a year earlier to $343,747.

The number of new listings rose 1.3 percent in October from September. CTV Two CTV News CTV News Channel BNN - Business News Network CP24