117% increase in home sales

Vancouver led the nation with a whopping 117 per cent increase in home sales in August compared to August a year ago.

According to statistics released by The Canadian Real Estate Association, a total of 42,483 homes traded hands across Canada via the Multiple Listing Service Systems in August 2009.

This represents an increase of 18.5 per cent from the same month last year, and the third consecutive year-over-year gain of more than 15 per cent, according to the news release.

Sales were 6.6 per cent below the record for the month of August set in 2007.

Year-over-year gains in Vancouver (117 per cent), Toronto (27 per cent), Calgary (17 per cent) and

Montreal (nine per cent) contributed most to the national increase in activity.

Aggregate MLS home sales activity for 25 major markets posted the third consecutive increase from year-ago levels of more than 20 per cent in August.

("Vancouver home sales up 117 per cent in August compared to one year ago" source: Vancouver Sun)