The Canadian Real Estate Association (CREA), released national sales statistics for the month of July, 2016 this week. According to the CREA, “The number of homes trading hands via Canadian MLS® Systems fell by 1.3 percent month-over-month in July 2016. With similar monthly declines having been posted in May and June, national sales activity in July came in 3.9 percent below the record set in April 2016...Actual (not seasonally adjusted) sales activity was down 2.9 percent year-over-year (y-o-y) in July 2016, marking the first y-o-y decline since January 2015 and the largest since April 2013. In line with softening activity in the Lower Mainland, y-o-y increases have been losing momentum since February 2016. Sales were down from levels one year earlier in about 60 percent of all Canadian markets, led by Greater Vancouver, the Fraser Valley, Calgary and Edmonton.” Highlights of CREA's report
- National home sales fell 1.3% from June to July.
- Actual (not seasonally adjusted) activity came in 2.9% below July 2015.
- The number of newly listed homes rose 1.2% from June to July.
- The MLS® Home Price Index (HPI) rose 14.3% year-over-year in July.
- The national average sale price climbed 9.9% in July from one year ago; net of the Greater Toronto Area (GTA) and Greater Vancouver, it advanced 7% year-over-year.
Read the entire report on Canadian MLS® sales for July, 2016.
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