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Canadian homes sales reach record high numbers in July 2020: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for July of 2020.


According to the report, "Statistics released today by the Canadian Real Estate Association (CREA) show national home sales and new listings continued to rebound in July 2020, with new listings hitting their highest level on record for the month of July, while sales posted the highest level of any month in history."


"Home sales recorded over Canadian MLS® Systems rebounded by a further 26% in July 2020, raising them to the highest monthly level ever recorded".


"With more and more of regular everyday life opening back up, REALTORS® and their clients across Canada are making up for lost time, and it’s been a very busy summer as a result," stated Costa Poulopoulos, Chair of CREA. "With sellers and buyers returning to the market in record numbers as lockdowns are increasingly lifted, we continue to make sure clients stay safe by complying with government and health officials’ directives and advice while continuing to use virtual technology to show properties and complete required forms and contracts. Now more important than ever, REALTORS® remain the best source for information and guidance when negotiating the sale or purchase of a home,” continued Poulopoulos.


 Highlights of CREA's report

  • National home sales rose 26% on a month-over-month (m-o-m) basis in July.
  • The actual (not seasonally adjusted) activity was up 30.5% year-over-year (y-o-y).
  • The number of newly listed properties climbed 7.6% from June to July.
  • The MLS® Home Price Index (HPI) rose 2.3% m-o-m and was up 7.4% y-o-y.
  • The actual (not seasonally adjusted) national average sale price posted a 14.3% y-o-y gain.

Read the entire report on Canadian MLS® sales for July of 2020.

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Norm Fisher

Royal LePage Vidorra

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Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

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