Home resales flat in October

OTTAWA ― Sales of existing Canadian homes were unchanged in October, according to the latest data from the Canadian Real Estate Association. Activity is now almost 20% above the six-year low reached in February 2019 but remains 7% below heights reached in 2016 and 2017. There was an almost even split between the number of local markets where activity rose and those where it declined. Higher sales in Greater Vancouver and the Fraser Valley as well as Ottawa offset a decline in activity in the Greater Toronto Area and Hamilton-Burlington. Actual (not seasonally adjusted) activity rose 12.9% year-over-year.