Home resales edge up in September

OTTAWA — The seasonally adjusted annual rate of sales of existing homes rose by 2.1% in September, the Canadian Real Estate Association reported last week. The gains were led by Toronto and Vancouver, and followed on a lacklustre market in the spring. Actual resales, however, declined 11% from last September, while home prices increased by 10.7%. “National sales appear to be stabilizing,” said the association’s president, Andrew Peck, in a statement. “While encouraging, it’s too early to tell if this is the beginning of a longer-term trend.”