CREA says October home sales edged back from record high set in September

After hitting an all-time record high for monthly sales in September, the Canadian Real Estate Association says home sales dropped 0.7 per cent last month.

But despite that, sales were still up 32.1 per cent compared with October last year, setting a new record for the month.

The actual national average home price also set another record in October at 607,250 dollars, up 15.2 per cent from the same month last year.

CREA says excluding sales in Greater Vancouver and the Greater Toronto Area, two of the most active and expensive housing markets, lowers the national average price by more than $127,000.