Canadian Home sales increased 3.8% in July, marking a fourth consecutive monthly gain and an 11.2% rise since March. Find out why Shaun Cathcart, CREA’s Senior Economist, notes this may signal the long-awaited post-inflation crisis rebound. September’s typical surge in listings will be one to watch.
The latest data from the Canadian Real Estate Association (CREA) shows the number of home sales in Canada climbed 3.8% in July compared to June.
In the eyes of CREA’s Senior Economist Shaun Cathcart, “that’s a trend, for sure.”
“With every month that goes by here, I think we can say more and more that the rebound we’ve been forecasting for the last year… was just delayed by a few months and now we’re sort of in it,” Cathcart said during this month’s CREA Housing Market Report (watch the full report below).
Before we break down all the latest data, here’s what you need to know at a glance:
National home sales were up 3.8% month-over-month.
Actual (not seasonally adjusted) home sales came in 6.6% higher when compared to July of last year.
The actual (not seasonally adjusted) national average sale price edged up 0.6% on a year-over-year basis.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
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