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Canada's housing market cools Home prices are still rising but much more slowly.Tyler Anderson/National PostHome prices are still rising but much more slowly. Resale price growth lowest in seven years Garry Marr, Financial Post Published: Friday, June 13, 2008 More On This Story TORONTO -- The Canadian real estate market is being flooded with homes, causing prices to start falling in some key markets, according to the Canadian Real Estate Association. The average price of a home sold last month in the country's top 25 markets was $337,071, an all-time record. But that record price was only up 1.1% from May, 2007 -- the smallest year-over-year increase in seven years. "The record number of new listings means more opportunities for buyers," said Gregory Klump. chief economist with CREA. "The resale housing market has evolved in just a few short months." CREA said there were 67,628 new units on the market in May, a 7% jump from last year. It was the second straight month that a record number of houses has gone on sale. The impact on prices is being felt most keenly in Alberta. The average price of a home sold in Calgary last month was $418,881, a 2.4% drop from a year ago. Edmonton sale prices averaged out at $340,499, down 4.8% from a year ago. Unit sales in both Alberta cities are also plummeting. Calgary homes sales were off 34.2% from a year ago while Edmonton sales were down 34.8% during the same period. The home sales are dropping across the country. CREA said on a national basis sales were off 16.9% in May from a year earlier.
http://www.montrealgazette.com/business/Realtor+lose+Montreal+listings/9285009/story.html Realtor.ca to lose Montreal listings BY ALLISON LAMPERT, GAZETTE REAL ESTATE REPORTER DECEMBER 13, 2013 7:10 PM Starting Jan. 1, Montreal brokers will only be able to list homes for sale on Centris.ca, a real estate website unique to Quebec. Photograph by: DAVE SIDAWAY , The Gazette MONTREAL — The Canadian Real Estate Association’s popular Realtor.ca website — widely known as the MLS — will no longer list Montreal homes for sale. The Greater Montreal Real Estate Board said Friday its brokers have voted in favour of separating from CREA. Starting Jan. 1, Montreal brokers will only be able to list homes for sale on Centris.ca, a real estate website unique to Quebec. Real estate brokers who favoured separating from CREA won by 66 votes out of 3,826 votes cast. Montreal’s 9,700 brokers will no longer be able to list homes for sale on Realtor.ca — also known as the Multiple Listing Service — or on CREA’s ICX.ca, which features commercial properties. “We were disappointed when we saw the decision,” said CREA spokesperson Pierre Leduc. Leduc could not say how many listings were generated by CREA’s Montreal membership. Quebec’s 17,000 brokers currently generate 80,000 listings on Realtor.ca. Brokers from four real estate boards located in Montreal, Quebec City, Granby and Drummondville have voted to leave CREA, while brokers from the Saguenay and the Laurentians will make a choice on whether to separate next week. The votes follow a lengthy dispute over rising fees for members, duplication of services like the Realtor and Centris websites, along with a brewing turf war over the listing of Quebec homes for a flat fee by out-of-province brokers. The Montreal board has objected to instances of brokers from Ontario — who are not subject to Quebec’s strict professional rules — listing a home in the Belle Province for a flat fee. CREA said it cannot stop its members from Ontario, or other provinces, from listing homes for sale in Quebec. Citing October data, the Montreal board said Centris was the fourth most popular real estate website geared at buying or renting a residential property in Quebec, with Realtor.ca ranked ninth. The most popular site was Kijiji. However, several Montreal brokers told The Gazette they were concerned about the decline in visibility that comes with losing access to Realtor.ca at a time of a softening Montreal real estate market. Leduc said Montreal-area brokers who are unhappy with the “yes vote” can join one of Quebec’s eight boards that are still members of CREA. He said he’s also heard of a “partitionist” movement among brokers who want to set up a separate Montreal real estate board that would remain part of CREA. “CREA will support these endeavours.” [email protected] Twitter: RealDealMtl