According to statistics released by The Canadian Real Estate Association (CREA), national home sales posted a month-over-month increase in August 2013.
Highlights:
- National home sales rose 2.8% from July to August.
- Actual (not seasonally adjusted) activity came in 11.1% above levels in August 2012.
- The number of newly listed homes was up 1.8% from July to August.
- The Canadian housing market has tightened but remains in balanced territory.
- The national average sale price rose 8.1% on a year-over-year basis in August.
- The MLS® Home Price Index (HPI) rose 2.9% year-over-year in August.
The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations and other co-operative listing systems rose 2.8 per cent on a month-over-month basis in August 2013. The number of local markets where sales improved on a month-over-month basis ran roughly even with those where activity edged lower in August, with increases in major urban centres tipping the balance.
Read the entire report here.