August 17, 2020
Statistics released today by the Canadian Real Estate Association (CREA) show national home sales and new listings continued to rebound in July 2020, with new listings hitting their highest level on record for the month of July, while sales posted the highest level of any month in history.
Summary:
- National home sales rose 26% on a month-over-month (m-o-m) basis in July.
- Actual (not seasonally adjusted) activity was up 30.5% year-over-year (y-o-y).
- The number of newly listed properties climbed 7.6% from June to July.
- The MLS® Home Price Index (HPI) rose 2.3% m-o-m and was up 7.4% y-o-y.
- The actual (not seasonally adjusted) national average sale price posted a 14.3% y-o-y gain.
Home sales recorded over Canadian MLS® Systems rebounded by a further 26% in July 2020, raising them to the highest monthly level ever recorded.