CREA - 3rd Quarter Just Behind Record Second

All though the sales are down in the third quarter of 2007 CREA says not to expect a crash because we are still in line for a record year.

"The Canadian Real Estate Association, which represents boards across the country, says sales in the third quarter were down 3.2% from the second quarter. However, the second quarter was the best quarterly period ever for housing sales.

The third quarter decline was driven by a relatively minor slowdown in Alberta, Ontario and Quebec. British Columbia saw a jump in sales in the third quarter.

For the first nine months of the year, there were 419,342 sales across the country, an 8.4% increase from a year earlier. There were 213,547 new listings in the third quarter, the second highest level ever." Read Full Article Click Here