September 17, 2018
Ottawa, ON, September 17, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show a small increase in national home sales between July and August 2018.
Highlights:
- National home sales rose 0.9% from July to August.
- Actual (not seasonally adjusted) activity was down 3.8% from August 2017.
- The number of newly listed homes was unchanged from July to August.
- The MLS® Home Price Index (HPI) was up 2.5% year-over-year (y-o-y) in August.
- The national average sale price edged up 1% y-o-y in August.
National home sales via Canadian MLS® Systems edged up by 0.9% in August 2018, marking a fourth consecutive monthly gain. However, sales activity is still running below levels in most other months going back to early 2014.
CREA Updates Resale Housing Market Forecast
Ottawa, ON, September 17, 2018 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations in 2018 and 2019.
Economic and demographic fundamentals remain supportive for housing demand in many parts of the country; however, policy headwinds have impacted homebuyer sentiment and access to mortgage financing in many housing markets. Further expected interest rate increases, combined with this year’s new federal mortgage stress test are expected to continue to keep home sales activity in check over the rest of the year and into 2019.
(905) 723-8184
(905) 723-7531
Close
Register
Log in
Mortgage calculator
