Thursday, July 27, 2006

Resale Of Homes In Major Cities On Pace To Set A Record This Year

"Resale of homes in major cities on pace to set a record this year: MLS agents

OTTAWA (CP) - It's a good year to sell your house.

The Canadian Real Estate Association says resales of homes by agents on the multiple listing service set a record for the first six months of this year and are on pace to set an annual record.

Actual resales of homes in major centres hit 186,177 units in the first half of the year, up 3.6 per cent from the same period last year.

The association says record sales in Calgary and Edmonton remained the driving force behind national totals, but records were also set in Regina, Saskatoon, Winnipeg, London and Sudbury in Ontario, Ottawa, Montreal and Quebec City.

The average price for the first six months hit $277,380, compared with $246,093 in the same period last year, a 12.7 per cent gain.

The total dollar volume for the first half of this year was $54.6 billion, up from $47.2 billion in 2005."

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This is great news for those of you who thought you had missed your chance at cashing in, and great for investors holding property as well.

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