National resale housing activity climbed to the highest level of any third quarter on record.
Actual (not seasonally adjusted) home sales via the Multiple Listing Service (MLS) Systems of Canadian real estate boards totaled 135,182 units in the third quarter of 2009, according to statistics released by the Canadian Real Estate Association (CREA). This is the highest level of activity on record for the period from July to September. The number of transactions was up 18% from the third quarter of last year, representing the biggest year-over-year increase since early 2002.
Seasonally adjusted national MLS home sales numbered 127,941 units in the third quarter, up 12% from the previous quarter. Building on two previous quarterly increases, seasonally adjusted MLS home sales activity now stands 48% above the low reached in the fourth quarter last year.
Low interest rates, rebounding consumer confidence and an improving overall sense of economic security continue to draw homebuyers to the housing market.