Housing sales declined in the third quarter but before anyone gets too excited about a crash it should be noted we are still on pace for a record year in 2007.
The Canadian Real Estate Association, which represents boards across the country, says sales in the third quarter were down 3.2% from the second quarter. However, the second quarter was the best quarterly period ever for housing sales.
The third quarter decline was driven by a relatively minor slowdown in Alberta, Ontario and Quebec. British Columbia saw a jump in sales in the third quarter.
