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Canadian housing market cruising between pre and peak pandemic levels: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for August of 2021.


According to the report, "Home sales recorded over Canadian MLS® Systems edged back a slight 0.5% on a month-over-month basis in August 2021, as transactions appear to be stabilizing at more sustainable but still historically active

levels."


“Canadian housing markets appear to be stabilizing somewhere in between pre-and peak-pandemic levels – which is
to say, still extremely unbalanced,” said Shaun Cathcart, CREA’s Senior Economist. “As far as campaign promises around building more homes, at least we are finally having the right conversation. But as anyone who has tried to
get even a small project done in the last year knows, availability of materials and skilled labour are not dials that
can simply be turned up to 11 whenever we decide we need them. And that’s not to mention all the other barriers
to building, of which there are many. It’s definitely easier said than done.”


 

 Highlights of CREA's report

•             National home sales edged back 0.5% on a month-over-month basis in August;

•             Actual (not seasonally adjusted) activity was down 14% on a year-over-year basis;

•             The number of newly listed properties ticked up 1.2% from July to August;

•             The MLS® Home Price Index (MLS® HPI) rose 0.9% month-over-month and was up 21.3% year-over-year;

•             The actual (not seasonally adjusted) national average sale price posted a 13.3% year-over-year gain in August.


Read the entire report on Canadian MLS® sales for August of 2021.

Read also, CREA's updated Housing Market Forecast.

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Norm Fisher

Royal LePage Vidorra


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Norm Fisher, TeamFisher

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 750 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 750 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

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