TORONTO, Dec 17 (Reuters) - Sales of existing homes in Canada fell in November from October and year-over-year sales were down as well, the Canadian Real Estate Association said on Monday as it once again trimmed forecasts for resale housing in 2012 and 2013.
The industry group for Canadian real estate agents said sales activity was down a seasonally adjusted 1.7 percent in November from October. Actual sales for November, not seasonally adjusted, were down 11.9 percent from a year earlier.
The drop continues a slowing trend that began when tighter mortgage rules came into effect in July, and CREA said it now believes national resale housing activity will slow 0.5 percent in 2012 and recede by 2 percent in 2013.
The industry group for Canadian real estate agents said sales activity was down a seasonally adjusted 1.7 percent in November from October. Actual sales for November, not seasonally adjusted, were down 11.9 percent from a year earlier.
The drop continues a slowing trend that began when tighter mortgage rules came into effect in July, and CREA said it now believes national resale housing activity will slow 0.5 percent in 2012 and recede by 2 percent in 2013.