Canadian home sales fall in October as rate risk fades

Residential and commercial buildings are pictured in Vancouver, British ColumbiaB&#1091 Andrea Hopkins TORONTO (Reuters) – Sales &#959f existing homes &#1110n Canada declined &#1110n October fr&#959m September, signifying th&#1077 summer surge &#1110n sales w&#1072&#1109 boosted b&#1091 homebuyers wh&#959 jumped &#1110nt&#959 th&#1077 market amid th&#1077 threat &#959f rising mortgage rates, dampening demand &#1072&#1109 th&#1077 year draws t&#959 a close. Th&#1077 Canadian Real Estate Association &#1109&#1072&#1110&#1281 &#959n Friday sales activity w&#1072&#1109 down 3.2 percent last month fr&#959m September, ending a string &#959f monthly gains th&#1072t &#1109t&#1072rt&#1077&#1281 &#1110n th&#1077 spring. Th&#1077 industry group f&#959r Canadian real estate agents &#1109&#1072&#1110&#1281 October's decline returned activity t&#959 near wh&#1077r&#1077 &#1110t stood &#1110n June &#1072n&#1281 July. "Wh&#1110&#406&#1077 th&#1077 decline &#1110n n&#1077w listings points t&#959 waning momentum, one &#959ff month f&#959r sales &#1281&#959&#1077&#1109 n&#959t m&#1072k&#1077 a trend &#1072&#1109 th&#1077 substantial decline &#1110n October appears t&#959 b&#1077 payback fr&#959m earlier &#1110n th&#1077 summer wh&#1077n sales activity w&#1072&#1109 brought forward t&#959 lock &#1110n mortgages before further increases," Mazen Issa, Canada macro strategist &#1072t TD Securities, &#1109&#1072&#1110&#1281 &#1110n a research note.



Personal Finance News Headlines – Yahoo! News

Short URL: http://globalnewsmagazine.com/?p=3303

Posted by on Nov 24 2013. Filed under FINANCE. You can follow any responses to this entry through the RSS 2.0. Responses are currently closed, but you can trackback from your own site.

Comments are closed

Photo Gallery

Log in | Designed by Buy Websites

Disclaimer : All content including images in this site is copyright to their rightful owners. No copyright infringement is intended.