The Canadian Real Estate Association (CREA) recently released national sales statistics for June of 2020.
According to the report, "Home sales recorded over Canadian MLS® Systems in June 2020 rebounded by a further 63%, returning them to normal levels for the month – some 150% above where they were in April."
"REALTORS® across Canada are increasingly seeing business pick back up," stated Costa Poulopoulos, Chair of CREA. "With sellers and buyers returning to the market, we continue to make sure clients stay safe by complying with government and health officials’ directives and advice, increasingly using technology to list and show properties virtually while providing secure methods to complete required forms and contracts. As always, but maybe now more than ever, REALTORS® remain the best source for information and guidance when negotiating the sale or purchase of a home,” continued Poulopoulos.
“While June’s housing numbers were mostly back at normal levels, we are obviously not back to normal at this point,” said Shaun Cathcart, CREA’s Senior Economist. “I guess the bigger picture is one of cautious optimism. The market has recovered much faster than many would have thought, but what happens later this year remains a big question mark. That said, daily tracking suggests that July, at least, will be even stronger.”
Highlights of CREA's report
- National home sales rose 63% on a month-over-month (m-o-m) basis in June.
- The actual (not seasonally adjusted) activity was up 15.2% year-over-year (y-o-y).
- The number of newly listed properties climbed 49.5% from May to June.
- The actual (not seasonally adjusted) new supply stood 4.8% above June 2019.
- The MLS® Home Price Index (HPI) rose 0.5% m-o-m and was up 5.4% y-o-y.
- The actual (not seasonally adjusted) national average sale price posted a 6.5% y-o-y gain.
Read the entire report on Canadian MLS® sales for June of 2020.
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