CREA: August Home Sales Hold Steady

The Canadian Real Estate Association released their report on the national resale housing market for August today and the feeling is quite positive.  Despite a month of heavy turmoil throughout the global economy the Canadian housing market held up strong and remained stable for a second consecutive month, with Toronto showing an increase. 


  • Sales activity was stable from July to August, but posted another big year-over-year gain reflecting weakened demand last summer.
  • Year-to-date sales pulled ahead of 2010 levels for the first time this year, and remain in line with the ten-year average.
  • The number of newly listed homes was also little changed from July to August.
  • The national housing market stayed firmly entrenched in balanced territory.
  • There were more balanced local markets in August than at any other time on record.
  • The national average price posted another year-over-year gain in August, but has moderated from elevated levels earlier this year.
  • Upward skewing of the national average price is diminishing due to fewer expensive sales and a declining share of national activity in Vancouver and Toronto.

Check out the entire report here.


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