“Homes sales were up on a month-over-month basis once again in November, and that trend is expected to continue in light of upcoming mortgage rule changes.

“Recently announced changes to mortgage regulations will likely boost sales activity in the short term, as buyers jump off the fence to beat the changes before they take effect next year,” CREA president Pauline Aunger said in a release. “Even so, some housing markets stand to be affected by the changes more than others.”

Home sales rose 1.8% from October to November, and activity was up 10.9% year-over-year last month.

New listings were also up – by 3.1% — from October to November. According to CREA, the housing market remains balanced.”

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Reports: Justin da Rosa for REPmag.ca