The number of homes sold nationally rose over 57 percent to more than 500,000 last year from 331,092 in 1997.
"Never before have we seen such a continuous run up in Canadian real estate," Michael Polzler, an executive vice-president at Re/Max, said in a statement.
Low interest rates, a robust job market, and strong consumer confidence were all credited as drivers. Immigration and domestic migration to tap Western Canada's booming economy also helped lift demand, the report said.
