Canadian home sales edge higher in July

Highlights:
• National home sales rose 0.8% from June to July.
• Actual (not seasonally adjusted) activity was 7.2% higher than July 2013 levels.
• The number of newly listed homes edged up 0.4% from June to July.
• The Canadian housing market remains in balanced territory.
• The MLS® Home Price Index (HPI) rose 5.3% year-over-year in July.
• The national average sale price rose 5.0% on a year-over-year basis in July.

 

The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations rose 0.8 per cent on a month-over-month basis in July 2014, marking the sixth consecutive monthly increase and the highest level for sales since March 2010.

Sales activity rose in about 60 per cent of all local housing markets in July, led by gains in Victoria, Winnipeg, London and St. Thomas, and Ottawa together with broadly-based increases in Quebec and New Brunswick. “On the surface, national sales activity in July was similar to what we saw in May and June,” said CREA President Beth Crosbie. “That said, July sales picked up in markets that struggled to gain traction in the spring, while activity eased slightly in some of Canada’s largest urban markets.

As always, all real estate is local and whether you’re looking to buy or sell, your local REALTOR® is your best source of information on all the factors driving the market where you currently live or might like to in the future.”

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