Canadian home sales edge higher in August

2019-09-19 Rifo

National Home Sales

Home sales recorded via Canadian MLS® Systems advanced for the sixth consecutive month in August. Transactions are now running almost 17% above the six-year low reached in February 2019, but remain about 10% below highs reached in 2016 and 2017.

1.png

CREA IMAGES


Actual Activity

Actual (not seasonally adjusted) sales activity was up 5% from where it stood in August 2018. The number of homes that traded hands was up from year-ago levels in most of Canada’s largest urban markets, including the Lower Mainland of British Columbia, Calgary, Winnipeg, the Greater Toronto (GTA), Ottawa and Montreal.

2.png

CREA IMAGES


Newly Listed Homes

The number of newly listed homes rose 1.1% in August. With sales and new supply up by similar magnitudes, the national sales-to-new listings ratio was 60.1%—little changed from July’s reading of 60.0%. The measure has risen above its long-term average (of 53.6%) in recent months, which indicates a tighter balance between supply and demand and a growing potential for price gains.

3.png

CREA IMAGES


MLS® Price Index

The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.8% m-o-m in August 2019, the largest increase in over 2 years.

4.png

CREA IMAGES


National Average Sale Price

The actual (not seasonally adjusted) national average price for homes sold in August 2019 was around $493,500, up almost 4% from the same month last year.


*The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts more than $100,000 from the national average price, trimming it to less than $393,000 and reducing the year-over-year gain to 2.7%.

5.png

CREA IMAGES


Copyright:

The content of the article is partly derived from the network and integrated. It can not be guaranteed and assured to be accurate, appropriate for all, and complete by CREA, and RIFO can not be held responsible for any error or negligence derived therefrom.If you have copyright infringement, please contact RIFO.



622 0 0