A strong December has Canada looking at a record for home sales. The bubble must not be deflating up north of the border.
National home sales are poised to set a record as realtors put off holiday plans to cope with an unseasonably strong December.
The Canadian Real Estate Association said yesterday there were 318,675 sales in the country’s top 25 markets during the first 11 months of this year. That is just under 1% shy of sales figures for all of 2004, which was a record.
The early indications are that December — usually a slow time for housing sales because of Christmas and other holidays — will see the market roar ahead. “It’s going to be a jolly good Christmas,” joked Gregory Klump, chief economist with Ottawa-based CREA.
Mr. Klump said economic fundamentals, namely continued growth in full-time employment and rebounding consumer confidence, are giving the housing sector strong support. via The National Post
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