Ottawa, ON, November 15, 2016 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were up on a month-over-month basis in October 2016.

Highlights:

• National home sales rose 2.4% from September to October.
• Actual (not seasonally adjusted) activity was up 2.0% year-over-year (y-o-y) in October 2016.
• The number of newly listed homes edged up 1.7% from September to October.
• The MLS® Home Price Index (HPI) in October was up 14.6% y-o-y.
• The national average sale price climbed 5.9% y-o-y.

The number of homes trading hands via Canadian MLS® Systems rose 2.4 percent month-over-month in October 2016.

Activity was up on a month-over-month basis about 60 percent of all local markets, led by the Fraser Valley, Calgary, Edmonton, Hamilton-Burlington and Montreal.

“The expanded stress-test for home buyers who need mortgage default insurance took effect in the middle of October,” said CREA President Cliff Iverson. &...