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