CREA economist Gregory Klump reports on MLS® sales and listings for the Canadian real estate market for July, 2011.
Highlights from CREA's release
- Sales activity was stable from June to July, but posted a big year-over-year gain due to weakened demand in July 2010.
- Year-to-date sales continue to run in line with the ten-year average.
- The number of newly listed homes inched up by less than one per cent from June to July.
- The national housing market remains firmly entrenched in balanced territory.
- The national average price posted the largest year-over-year gain since April 2010, but was below where it stood in June.
- Upward skewing of the national average price is diminishing due to fewer expensive sales and a declining share of national activity in Vancouver and Toronto.
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