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Wednesday, October 20, 2010

Canadian Mortgage Broker News - Home sales rise for second straight month

Canadian Mortgage Broker News - Home sales rise for second straight month
Monday, 18 October 2010

Canadian housing sales have rose for the second straight month, according to the Canadian Real Estate Association (CREA).

In September, the seasonally adjusted annual rate of sales increased by 3 per cent, and prices has begun to stabilize. The average price of a home sold in Canada last month was $331,089, down slightly from the $331,683 average a year ago. But prices were up from a month earlier, when the average was $324,928.

“Supply and demand are rebalancing and that’s keeping prices steady in many markets,” said Georges Pahud, CREA president.