Job Creation Confidence Boosts Canadian Home Sales

Sales of previously owned homes in Canada rose 3.1 per cent last month on rising consumer confidence and job creation. Sales in 24 major markets rose to a seasonally adjusted 28,840 units in January, the Canadian Real Estate Association said yesterday. A monthly sales record of 29,550 units was set last August. The average home resale price rose 10 per cent to $269,680 in January from a year earlier, according to the association's report. Gregory Klump, the real estate association's chief economist, predicted sales will fall 5.4 per cent this year.