Home resales slow in October

OTTAWA ― Sales of existing Canadian homes edged back by 1.6% in October, according to a released by the Canadian Real Estate Association. While activity is still stronger compared to the first half of 2018, it remains below monthly levels recorded from early 2014 through 2017. Actual (not seasonally adjusted) activity was down 3.7% compared to October 2017 and in line with the 10-year average for the month. Lower sales in Greater Vancouver and the Fraser Valley more than offset the rise in sales in the Greater Toronto Area and Montreal by a wide margin.