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Home sales are poised for sixth straight gain

Home sales are poised for sixth straight gain

Canadian home sales in October may have recorded a sixth consecutive annual gain, led by increases in Toronto and Montreal, regional housing data show.

October sales reported by 11 regional real estate boards show a 10% gain from a year earlier, according to data compiled by Bloomberg. Those 11 markets had recorded a 12% annual gain in September, according to data released last month by the Canadian Real Estate Association.

Home sales in Toronto rose 18% in October from a year earlier, according to data from the city's real estate board. The Montreal real estate board reported a 7.3% increase in sales in October from a year earlier. Vancouver recorded a 0.9% drop in sales from a year earlier in October, regional board data show.