Cliff Peskin

Oct 15, 2010

The naysayers and fear mongers should write letters of apology to those that maintained Canada’s real estate market would not crash this summer/fall.

Its now almost 2011 and the market has still not crashed and to the contrary is gaining some steam.

Canadian sales of existing homes in September rose from August, rising for a second straight month, the Canadian Real Estate Association said on Friday.

CREA said a total of 33,913 homes were sold in September, up 3 percent from August to reach its highest level since May.

Sure, sales are down from last September, but you have to remember that September 2009 was a record setter. Sales figures for September 2010 are comparable to those in September 2008, 2007, and 2006.

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