The Canadian Real Estate Association (CREA) recently released national sales statistics for September of 2020.
According to the report, "Statistics released today by the Canadian Real Estate Association (CREA) show national home sales set another record in September 2020."
"Home sales recorded over Canadian MLS® Systems edged up a further 0.9% between August and September, raising them to yet another new all-time monthly record.".
"Many Canadian housing markets are continuing to see historically strong levels of activity as we enter into the fall market of this very strange year," stated Costa Poulopoulos, Chair of CREA. "Along with historic supply shortages in a number of regions, fierce competition among buyers has been putting upward pressure on home prices. Much of that was pent-up demand from the spring that came forward as our economies opened back up over the summer. With second wave worries growing, we will remain vigilant in adhering to government and health officials’ directives to keep our clients safe. Now as always, REALTORS® remain the best source for information and guidance when negotiating the sale or purchase of a home,” continued Poulopoulos.
Highlights of CREA's report
National home sales rose 0.9% on a month-over-month (m-o-m) basis in September.
The actual (not seasonally adjusted) activity was up 45.6% year-over-year (y-o-y).
The number of newly listed properties fell back by 10.2% from August to September.
The MLS® Home Price Index (HPI) rose 1.3% m-o-m and was up 10.3% y-o-y.
The actual (not seasonally adjusted) national average sale price posted a 17.5% y-o-y gain in September.
Read the entire report on Canadian MLS® sales for September of 2020.
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