Canadian Home Sales Edge Up in August

According to statistics^[1]released today by The Canadian Real Estate Association (CREA), Association (CREA), national home sales posted a small gain in August 2017.

Highlights:

• National home sales rose 1.3% from July to August.
• Actual (not seasonally adjusted) activity stood 9.9% below last August’s level.
• The number of newly listed homes fell a further 3.9% from July to August.
• The MLS® Home Price Index (HPI) was up 11.2% year-over-year (y-o-y) in August 2017.
• The national average sale price climbed by 3.6% y-o-y in August.

The number of homes sold via Canadian MLS® Systems edged up by 1.3% in August 2017. The small gain breaks a string of four straight declines, but still leaves activity 13.8% below the record set in March.

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