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File photo of a builder putting the finishing touches on a home in Winnipeg. (John Woods For The Globe and Mail)
File photo of a builder putting the finishing touches on a home in Winnipeg. (John Woods For The Globe and Mail)

Canadian home sales top expectations Add to ...

The Canadian Real Estate Association says home sales in Ontario were stronger than anticipated during the third quarter — resulting in a slightly brighter outlook for CREA's 2011 and 2012 national forecasts.

The industry association is now projecting sales this year will be up 1.4 per cent from 2010, half a percentage point better than the previous forecast.

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CREA expects there will be slightly fewer units sold next year than in 2011, but the 0.5 per cent decline is an upward revision.

October's sales activity through CREA members was the highest since January and the national average price was up 5.5 per cent from October 2010.

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