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For the seventh month in a row, sales and listings were down.

A home for sale in Calgary in June.
A home for sale in Calgary in June. Photo by Azin Ghaffari/Postmedia

Even as the real estate market continued to ease in October, with sales and new listings down for a seventh straight month, the real estate market in the city is on track for a record year.

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The total number of units sold in October was 2,184, down from 2,181 in September and 1,902 in October last year. With only two months left in the year, the market is set to set a new record with 26,823 sales.

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The city's benchmark price fell in September but rose in October.

While our city is not immune to the impact that inflation and higher rates are having, strong employment growth, positive migration flows and a stronger commodity market are helping offset some of that impact.

  1. For real estate marketing, the Multiple Listing Service is the largest network in Canada.
  2. Office buildings in downtown Toronto.
  3. None
  4. Ontario plans to introduce the new legislation, which largely targets red tape and municipal zoning laws that stall housing construction, this week.

Shcampbell@postmedia is the email address.

  1. An oilsands upgrader uses steam and natural gas (its primary component is methane) to produce the hydrogen needed to upgrade bitumen. Methane generated from human activity is responsible for about a quarter of the planet’s warming and concentrations of the gas from all sources last year had the biggest year-on-year jump since measurements began four decades ago, a separate study from the World Meteorological Organization found.
  2. A Government of Canada sign sits in front of a Library and Archives Canada building next to Parliament Hill in Ottawa.
  3. For real estate marketing, the Multiple Listing Service is the largest network in Canada.
  4. Canadian home prices are now down nine per cent from their peak en route to a 30 per cent or so decline, says David Rosenberg.
  5. A student walks through the University of Toronto campus in Toronto.

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