Existing home sales activity reached the highest level ever for the month of December, according to statistics released by the Canadian Real Estate Association. Strong demand in the second half of 2009, especially in the fourth quarter, pushed annual sales above 2008 levels.
Residential sales activity via the Multiple Listing Service (MLS) of Canadian real estate boards numbered 27,744 units in December 2009. This stands 72% above activity in December 2008, when activity dropped to the lowest level in a decade. New records for the month of December were reported in Ontario, Quebec, Saskatchewan, New Brunswick and Newfoundland & Labrador.
Seasonally adjusted national home sales totalled 46,805 units in December, capping the strongest fourth quarter period ever. A total of 137,957 homes traded hands on a seasonally adjusted basis in the fourth quarter of 2009. This is up 2.6% from the previous record set in the first quarter of 2007. New quarterly records were set in British Columbia, Ontario and Quebec.
Click here to read the full CREA release.
Although financial security continues to top the list of homeownership benefits, the comforts of home are increasingly important to Canadian women.
According to the third annual TD Canada Trust Women and Home Ownership Poll, which surveyed women who have purchased a home independently, key features of homeownership, including being able to renovate to suit individual tastes and having a garden, are now more essential to Canadian women than they were in 2008.
When asked to describe the best things about homeownership, Canadian women said it is about making a house a home. Having a place of their own (34%), being able to decorate or renovate the way they want (34%) and having a backyard or garden (32%) were some of the responses that increased dramatically from the first survey conducted in 2008.
“Even though the comforts of home have become increasingly important to women, the financial reasons for homeownership have also increased in importance,” says Chris Wisniewski, Group Product Manager, Real Estate Secured Lending, TD Canada Trust. This year 44% of women ranked financial security as the best thing about homeownership compared to 23% of a similar sample of women in 2008. Second on the list of best things about owning a home was not having to pay rent or pay other people (38% versus 13% in 2008).
Click here to read the full TD Canada Trust release.