According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity edged up almost one per cent on a month-over-month basis in June 2014
Sales rose in about half of all local housing markets in June, led by gains in Greater Vancouver where activity hit its highest level in more than three years, and Montreal where activity is now 10 per cent above post-recession lows reached earlier this year.
Toronto Real Estate Board President Paul Etherington reported strong year-over-year growth for July 2014 sales and the average selling price. Sales reported by TREB Members through the TorontoMLS system were up by 10 per cent to 9,198. This was the second-best July sales result on record.
- National home sales rose 0.8% from May to June.
- Actual (not seasonally adjusted) activity stood 11.2% above June 2013 levels.
- The number of newly listed homes was little changed from May to June.
- The Canadian housing market remains in balanced territory.
- The national average sale price rose 6.9% on a year-over-year basis in June.
- The MLS® Home Price Index (HPI) rose 5.4% year-over-year in June.