Canadian Home Sales Show Little Change from June to July, 2023: CREA

Canadian Home Sales Show Little Change from June to July, 2023: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for July of 2023.

"Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were only slightly changed on a month-over-month basis in July 2023.

“Home sales recorded over Canadian MLS® Systems posted a small 0.7% decline between June and July 2023. Activity has been showing signs of stabilizing since May.

‘July continued along the same trend we’ve seen emerge in recent months, with sales leveling off and new listings returning in more normal numbers,’ said Larry Cerqua, Chair of CREA. ‘This has been giving buyers more choices and balancing the market, which as of July was also slowing the rate of price growth. If you’re looking for information and guidance about how to buy or sell a property, contact a REALTOR® in your area,’ continued Cerqua.”

Highlights from this report:

•              National home sales edged down 0.7% month-over-month in July.

•              Actual (not seasonally adjusted) monthly activity came in 8.7% above July 2022.

•              The number of newly listed properties rose 5.6% month-over-month.

•              The MLS® Home Price Index (HPI) climbed 1.1% month-over-month and was down just 1.5% year-over-year.

•              The actual (not seasonally adjusted) national average sale price posted a 6.3% year-over-year increase in July.

Read the recently released national sales statistics for July of 2023.

Read also: CREA’s updated Housing Market Forecast for 2023.

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Norm Fisher

Royal LePage Vidorra


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