Resale housing report

National resale housing activity reached the highest level of any quarter in the first quarter of 2007, with a seasonally adjusted total of 129,219 homes sold in Canada during the period, according to the Canadian Real Estate Association.

Although the U.S. housing market has been experiencing a huge slowdown, the Canadian markets remain on solid ground, especially in western and central Canada, the report noted.

The seasonally adjusted number of homes sold rose by 2.9 per cent over the previous quarterly record, which was set in the third quarter of 2005. Sales activity rose by 6.9 per cent from the fourth quarter of 2006.

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