The Canadian Real Estate Association says the number of homes sold in November rose 26 per cent compared with a year ago, marking the second straight month of large year-over-year gains.
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On a seasonally adjusted month-over-month basis, national home sales rose 2.8 per cent from October.
The association says rising home sales activity was driven by gains in Greater Vancouver, Calgary, Greater Toronto and Montreal, along with some smaller cities in Alberta and Ontario.
CREA senior economist Shaun Cathcart says the Bank of Canada’s latest interest rate cut and a loosening of mortgage rules could mean a more active winter market than normal.
The national average sale price for November rose 7.4 per cent compared with a year earlier to $694,411.
The number of newly listed properties was down 0.5 per cent month-over-month.