Home resales hit another record in September

OTTAWA — Sales of existing Canadian homes edged up a further 0.9 percent between August and September, raising them to yet another new all-time monthly record, according to the Canadian Real Estate Association. About 60 percent of local markets saw gains, including Ottawa, Greater Vancouver, Vancouver Island, and Calgary. These were mostly offset by declines in the Greater Toronto Area and Montreal, though activity in those markets is still historically very strong. Actual (not seasonally adjusted) sales activity posted a 45.6 percent year-over-year gain in September, a new record for the month by a margin of some 20,000 transactions.