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Canadian homes sales soften, but market conditions tighten due to low inventory: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for July of 2021.


According to the report, "Home sales recorded over Canadian MLS® Systems edged back a further 3.5% on

a month-over-month basis in July 2021, marking the smallest of four consecutive declines since March. While sales are now down a cumulative 28% from that March peak, Canadian housing markets are still historically quite active."


"While the moderation of sales activity continues to capture most of the headlines these days, it’s record-low inventories that should be our focus,” said Cliff Stevenson, Chair of CREA. "We still have extremely unbalanced housing markets all over the country, so your best bet is to consult with your local REALTOR® for information and guidance about buying or selling a home in these still unprecedented and challenging times,” continued Stevenson. 


 

 Highlights of CREA's report

  • National home sales declined by 3.5% on a month-over-month basis in July.
  • The actual (not seasonally adjusted) activity declined by 15.2% year-over-year.
  • The number of newly listed properties dropped by 8.8% from June to July.
  • The MLS® Home Price Index (MLS® HPI) rose 0.6% month-over-month and was up 22.2% year-over-year.
  • The actual (not seasonally adjusted) national average sale price posted a 15.6% year-over-year gain in July. 

Read the entire report on Canadian MLS® sales for July of 2021.



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Norm Fisher

Royal LePage Vidorra


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Norm Fisher, TeamFisher

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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