The Canadian Real Estate Association (CREA), recently released national sales statistics for July of 2019.
According to the report, "Home sales recorded via Canadian MLS® Systems rose for the fifth consecutive month in July, putting them about 15% above the six-year low reached in February 2019 but still more than 10% below the highs reached in 2016 and 2017."
Seasonally adjusted MLS® Home Price Index readings in July were up from the previous month in 11 of the 18 markets tracked by the index. July’s trends were generally in line with June’s, with virtually all of the gains recorded in housing markets east of the Prairie region. Prices were flat on a month-over-month basis across the Prairies, with the only material declines posted in the GVA (-0.6%) and Fraser Valley (-0.4%), where declines were smaller than those posted in June.
Highlights of CREA's report
- National home sales rose 3.5% month-over-month in July.
- The actual (not seasonally adjusted) activity was up 12.6% year-over-year.
- The number of newly listed homes edged back 0.4% month-over-month.
- The MLS® Home Price Index (HPI) climbed 0.6% month-over-month and 0.2% year-over-year.
- The actual (not seasonally adjusted) national average sale price was up 3.9% year-over-year.
Read the entire report on Canadian MLS® sales for July 2019.
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