Final answer:
On average, around 500,000 homes are sold each year in Canada according to the Canadian Real Estate Association, though this figure can vary depending on the year and market conditions. The correct choice is answer d. Around 500,000.
Step-by-step explanation:
When examining the Canadian real estate market, it is important to look at historical data for a comprehensive understanding. The answer to the question of how many homes are sold each year in Canada is not fixed as it varies from year to year due to economic conditions, market trends, and changes in housing policies.
However, on average, the Canadian Real Estate Association (CREA) reports that around 500,000 homes are sold each year in Canada. This number can fluctuate; for instance, it can rise during a real estate boom or decline during an economic slowdown. Therefore, the correct answer to the student's question is d. Around 500,000.
It is important to note that these figures can change year over year, and it is always recommended to look at the most recent reports or data for the latest information regarding home sales in Canada.