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Canadian home sales stable in July, 2011: CREA

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.
Read the complete release here.


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