The increase in sales came as the number of newly listed homes slipped 0.8 per cent in October following a jump of more than 5 per cent in September. CREA says a national sales-to-new-listings ratio of between 40 per cent and 60 per cent is generally consistent with a balanced market. Compared with a year ago, the number of homes sold in October fell 4.3 per cent. The national average price for a home sold in October was $505,937, up five per cent from a year ago. “The level of activity is likely to stabilize and perhaps soften in the coming quarters as markets adjust to recent and upcoming regulatory changes,” Tal wrote in a report.

Source: thestar November 15, 2017 17:50 UTC