August 2015 CREA statistics and updated forecast

CREA monthly statistics and MLS HPI august 2015

Canadian home sales little changed in August

Ottawa, ON, September 15, 2015 – According to statistics1 released today by The Canadian Real Estate Association (CREA), national home sales activity posted a small month-over-month increase in August 2015.

Highlights:

  • National home sales edged up by 0.3% from July to August.
  • Actual (not seasonally adjusted) activity stood 4.0% above August 2014 levels.
  • The number of newly listed homes rose 0.5% from July to August.
  • The Canadian housing market remains balanced overall.
  • The MLS® Home Price Index (HPI) rose 6.43% year-over-year in August.
  • The national average sale price rose 8.7% on a year-over-year basis in August; excluding Greater Vancouver and Greater Toronto, it increased by 4.2%.

The number of homes trading hands via MLS® Systems of Canadian real estate Boards and Associations edged up 0.3 per cent in August 2015 compared to July and remains near levels that have changed little since reaching a five-year high in May.

Ottawa, ON, September 15, 2015 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations for 2015 and 2016.

Since CREA’s forecast published in June, the outlook for oil and other natural resource commodities has deteriorated. As a result, the economic and employment backdrop has dimmed for provinces whose prospects rely on their production.

But, the continuation of low interest rates and supportive demographics has resulted in stronger than expected home sales activity in British Columbia and Ontario. These two provinces account for approximately 60 per cent of Canadian housing activity, so stronger than expected trends in these provinces have contributed to an upward revision to CREA’s forecast for national sales activity and average prices.

CREA housing forecast September 2015

For more information, please contact:

Pierre Leduc
Media Relations
leduc@crea.ca

The Canadian Real Estate Association
200 Catherine Street, 6th Floor    Ottawa, ON K2P 2K9
Tel: +1 (613) 237-7111    Fax: +1 (613) 234-2567

Author: bramptonrealestateboard

At the Brampton Real Estate Board (BREB) we believe in the ownership of Real Estate. Our objective is to contribute to the capability and growth of our members in their endeavors by marketing all forms of real property throughout the greater Brampton, Halton Hills and Caledon marketplaces and beyond. The Brampton Real Estate Board is dedicated to providing an environment in which it’s Member REALTORS®, employees, Board of Directors, and Committee volunteers are encouraged to grow, succeed and develop in order to provide the highest level of professional conduct and service.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s