The Canadian Real Estate Market is beginning warrant a welcome and much-missed adjective: Normal.
According to recent numbers released by CREA, sales activity increased for the third month in a row, nation-wide, in October 2010.Taking into account seasonal adjustments, national home sales activity via the MLS systems increased 4.6% in October 2010. This rise is a continuation of similar increases made in August and September.
Led by Toronto and Vancouver, activity has now reached 13.3% above July levels, which coincided with the year’s low point.  Monthly increases, with seasonally adjusted activity were seen in almost three quarters of local markets monthly increases, according to CREA.
“Normal” is in sight for the Canadian market—meaning that sales activity is reaching mid-range levels. Sales activity in October was in a comfortable position, halfway between the lows brought on by the recession reached in December 2008, and the record level activity seen in December 2009.
True figures, not seasonally adjusted  state that national sales activity in October 2010 was 21.6% below levels for record-breaking October 2009.
CREA is quick to mention though, that national sales activity last year came back on its’ own without a single monthly decline. Similarly, it reached record levels towards the end of 2009. Consequently, large declines in sales activity, as compared to a year ago, have cancelled out recent monthly gains in national sales activity, balancing things out.
This record level activity late last year will continue to effect current reporting of numbers in the same way, for year ago comparisons over the rest of 2010.
In October, new residential listings increased 1.3% on a seasonally adjusted basis. New listings are still 14% below the peak reached in April 2010. While there has been much movement on both ends of the spectrum in sales activity, the two ends have mirrored each other, keeping balance and market harmony since early this spring.
Good news for over half of Canada’s markets CREA says, that are enjoying this balance and “normalcy” with nearly equal parts in buyers’ or sellers’ market territory.
In another sign that the market is balanced, the national average price trend is stabilizing.  Remaining at consistent levels for almost a year, the national average price trend has remained relatively stable- but is still affected by numbers from last year for the year-on-year comparison.
The national average price for homes sold in October 2010 came in at 343,747, approximately a meagre percentage point higher compared to one year ago.  Also, October ushers in the fourth month in row where the average home price has remained fairly evenly matched with year ago levels.