October home sales up 32% annually, as prices set new record: CREA

The Canadian Real Estate Association says home sales in October fell back from the all-time record high for monthly sales set in September. The association says October sales were down 0.7 per cent from September. However, sales last month still set a record for October as they gained 32.1 per cent compared with October last year.

Get weekly money news

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.

Sign up for weekly money newsletter Sign Up

By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

READ MORE: How the pandemic has turned downtown Toronto condos into ‘challenging’ investments

The actual national average home price also set another record in October at $607,250, up 15.2 per cent from the same month last year. CREA says excluding sales in Greater Vancouver and the Greater Toronto Area, two of the most active and expensive housing markets, lowers the national average price by more than $127,000.

The association noted that some 461,818 homes were sold over Canadian MLS systems in the first 10 months of the year, up 8.6 per cent from the same period in 2019.