Canadian home sales dipped 0.7% in July, says CREA

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Canadian home sales edged back by 0.7 per cent in July, according to the Canadian Real Estate Association.

Housing market momentum hit pause after a solid June

Jenna Benchetrit · CBC News ·

For sale signs hanf in front of houses on a street wet from rain, with a cyclist appoaching.
Canadian home sales edged back by 0.7 per cent in July, according to the Canadian Real Estate Association. (Esteban Cuevas/CBC)

Canadian home sales edged back by 0.7 per cent in July, according to the Canadian Real Estate Association.

The number of newly listed properties increased 0.9 per cent month over month, led by a boost in Calgary. 

The national average home sale price (non-seasonally adjusted) was $667,317 in July, marking a 0.2 per cent decline from the same period last year.

Calgary and the Greater Toronto Area saw a decline in home sales, while Edmonton and Hamilton-Burlington saw gains.

The total number of properties listed on Canadian multiple listing service systems was up 22.7 per cent from a year ago, though still 10 per cent below historical averages for July, according to CREA.

More to come.

ABOUT THE AUTHOR

Jenna Benchetrit is the senior business writer for CBC News. She writes stories about Canadian economic and consumer issues, and has also recently covered U.S. politics. A Montrealer based in Toronto, Jenna holds a master’s degree in journalism from Toronto Metropolitan University. You can reach her at [email protected].

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