The Canadian Real Estate Association says home sales in September set another record for the month as they continued to climb higher and prices soared.
The association says home sales in September were up 45.6 per cent compared with the same month last year.
Compared with August, CREA says home sales were up 0.9 per cent on a seasonally adjusted basis.
Month-over-month gains in Ottawa, Greater Vancouver, Vancouver Island, Calgary and Hamilton-Burlington, Ont., were mostly offset by declines in the Greater Toronto Area and Montreal.
The actual national average home price also set another record in September at $604,000, up 17.5 per cent from the same month last year.
CREA says excluding sales in Greater Vancouver and the Greater Toronto Area, two of the most active and expensive housing markets, lowers the national average price of about $125,000.
Photo credit: THE CANADIAN PRESS/Graeme Roy
News source: The Canadian Press