Canadian Home Sales Surge in November

Existing home sales in Canada rose to the tune of 73 percent in November when compared to the same month one year ago. The Canadian Real Estate Association said on Tuesday that 36,383 homes changed hands in November on a seasonally adjusted basis, 0.4 percentage points below the record high set in November 2007.

“As we predicted last April, the rebound in resale housing activity led the overall Canadian economy out of recession,” CREA President Dale Rippinger said in a statement.


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