National Home Sales Up Again
Canada's housing market is still rising, for the sixth month in a row since February of 2009. The sales in July set a historical record for the month, as over 50,200 homes were sold. That's almost twenty percent as many sales as took place in July of 2008.
This marks the first time that sales in July have been above 50,000. Compared to the massive 9 percent increase in sales that took place in June the percentage increase in July was not as impressive at a little over 2.5 percent.
Still, the report, published by the Canadian Real Estate Association, is being viewed as proof that the housing market is being re-infused with customers after the abandonment of the recession. Two of the driving forces behind the rebound are likely the historically low mortgage rates and other suggestions that the worst of the recession is over.