Property News

Canadian sales numbers keep on growing

Canadian sales numbers keep on growing
Canadian property sales rose towards the end of 2011 according to the latest data from the Canadian Real Estate Association (CREA).

CREA’s figures showed that residential real estate transactions were up 1.8% December month-month. Sales for the whole of 2011 totalled 456,749, a 2.2% rise on 2010’s number.

CREA president Gary Morse said that he hoped the end-of-year boost would continue into 2012.
“The momentum in sales activity provides clear evidence that low interest rates continue to draw homebuyers to the housing market,” Morse said. “While buyers have become increasingly cautious, the hand off for sales activity going into the New Year suggests that Canada’s housing market will continue to benefit from low interest rates in 2012, and continue making a significant contribution to Canadian economic activity.”