Home resales edge up in October

Sales of existing homes edged up by 1.3 percent between September and October, according to the Canadian Real Estate Association, the first monthly gain since February. About 60 percent of all local markets saw sales rise in October, although both gains and declines were generally small across the board. The largest gain, a six percent increase in Greater Vancouver, was offset by a 2.4 percent decrease in activity in Montreal. The actual (not seasonally adjusted) number of transactions in October came in 36 percent below that same month last year.