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Canada sees most August home sales in four years: CREA

CREA said last month recorded 40,714 home purchases nationally, marking the most August sales in four years with activity up 1.9 per cent year-over-year.
Amid pent-up demand from spring, new listings rose 2.6 per cent to 79,527 units, leaving 195,453 properties listed at the end of August.
Regional price shifts appeared as activity rose in Montreal, Quebec, Vancouver, British Columbia, and Ottawa, Ontario, while the national home price index fell 0.1 per cent to $687,300.
Sales climbed 1.1 per cent month-over-month, marking a fifth straight monthly increase and a 12.5 per cent cumulative gain since March, while Shaun Cathcart, CREA senior economist, said the market is poised for more activity this fall.
A potential Bank of Canada rate cut could spur buyer interest, as August's home sales exceeded 40,700, the highest since 2021, says CREA.

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