Jul 2008 24

Resale home listings increase, sales slip

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Canadians put a record number of homes up for sale in the first half of 2008 while sales of residential units slipped, the Canadian Real Estate Association (CREA)announced.

The number of homes for sale listed on the Multiple Listing Service in the first half of 2008 totalled 332,958 units, up 8.1 per cent from the same time period in 2007. CREA suggested the figures show the resale housing market is becoming more balanced, particularly in regions such as Vancouver, Regina, and Saskatoon.

CREA noted the major market residential average price for the first half of 2008 increased 3.2 per cent in yearly comparisons to $340,390.
Meanwhile, sales activity during the same time span fell 13.3 per cent to 169,265 units, CREA said. These statistics were published by the CBC News.

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