“Low interest rates and upbeat consumer confidence continue to release the pent-up demand that built late last year and earlier this year,” CREA President Dale Ripplinger said in the statement.

Sales records were set in British Columbia, Ontario and Quebec. Sales rose 5.1 percent to 45,818 units in October on a seasonally adjusted basis,says the Canadian Real Estate Association . The average nationwide price also rose to a record C$341,079 ($326,500), 21 percent higher than a year earlier.