Canadian home sales rise in July

Aug 15 13:08 2019 Print This Article

Ottawa, ON, August 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up in July 2019 compared to June.

Highlights:

National home sales rose 3.5% month-over-month (m-o-m) in July.

Actual (not seasonally adjusted) activity was up 12.6% year-over-year (y-o-y).

The number of newly listed homes edged back 0.4% m-o-m.

The MLS® Home Price Index (HPI) climbed 0.6% m-o-m and 0.2% y-o-y.

The actual (not seasonally adjusted) national average sale price was up 3.9% y-o-y.

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. (Chart A)

Activity advanced in about 60% of all local markets. While the monthly increase was led by Greater Vancouver (GVA) and Greater Toronto (GTA), sales there remain well below levels recorded prior to the mortgage stress test that came into effect in 2018.

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Canadian Real Estate Association

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade Associations. They have over 100,000 real estate brokers, agents and salespeople, working through 100 real estate Boards and Associations across Canada as members.

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