Canadian home sales post third consecutive decline in July

Ottawa, ON, August 15, 2016 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales declined for a third consecutive month in July 2016.

Highlights:

National home sales fell 1.3 per cent from June to July.
• Actual (not seasonally adjusted) activity came in 2.9 per cent below July 2015.
• The number of newly listed homes rose 1.2 per cent from June to July.
• The MLS Home Price Index (HPI) rose 14.3 per cent year-over-year in July
• The national average sale price climbed 9.9 per cent in July from one year ago; net of the Greater Toronto Area (GTA) and Greater Vancouver, it advanced 7 per cent year-over-year.

The number of homes trading hands via Canadian MLS Systems fell by 1.3 per cent month-over-month in July 2016. With similar monthly declines having been posted in May and June, national sales activity in July came in 3.9 per cent below the record set in April 2016.

To read the full release, click here.