Canadian housing markets currently cruising between pre- and peak pandemic levels
Ottawa, ON, September 15, 2021 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were little changed between July and August 2021.
- National home sales edged back 0.5% on a month-over-month basis in August;
- Actual (not seasonally adjusted) activity was down 14% on a year-over-year basis;
- The number of newly listed properties ticked up 1.2% from July to August;
- The MLS® Home Price Index (MLS® HPI) rose 0.9% month-over-month and was up 21.3% year-over-year;
- The actual (not seasonally adjusted) national average sale price posted a 13.3% year-over-year gain in August.
Home sales recorded over Canadian MLS® Systems edged back a slight 0.5% on a month-over month basis in August 2021, as transactions appear to be stabilizing at more sustainable but still historically active levels.
Access the August 2021 stats PDF.
CREA Updates Resale Housing Market Forecast
Ottawa, ON September 15, 2021 – 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.
Over the past several years, record levels of international immigration (not including 2020), low interest rates, and an increasingly middle-aged Millennial cohort have come together to fuel very strong household formation and housing demand in Canada. Recall that prior to COVID-19, the number of available listings nationally was already at a 14-year low and the national number of months of inventory on the eve of the lockdowns had fallen to below 4 months (seller’s market territory).
Access the September 2021 forecast PDF.
For more information, please contact:
The Canadian Real Estate Association
200 Catherine Street, 6th Floor, Ottawa, ON K2P 2K9
Tel: +1 (613) 237-7111