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Canada sees most August home sales in four years: CREA
Home sales increased by 1.9% year-over-year with 40,257 transactions in August, driven by rising new listings and potential interest rate cuts, CREA reports.
- 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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Canada Sees Most August Home Sales in Four Years: CREA
The Canadian Real Estate Association says it recorded the most home sales for August in four years as the number of residential properties that changed hands rose 1.9 percent compared with a year ago. There were 40,257 home sales across the country last month, up from 39,522 in August 2024. Home sales also rose 1.1 percent on a month-over-month basis, marking the fifth straight monthly increase. Transactions have risen a cumulative 12.5 percent …
·New York, United States
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The average selling price of a property in Canada is $664,078, says the Canadian Real Estate Association.
·Montreal, Canada
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Coverage Details
Total News Sources23
Leaning Left9Leaning Right3Center4Last UpdatedBias Distribution56% Left
Bias Distribution
- 56% of the sources lean Left
56% Left
L 56%
C 25%
R 19%
Factuality
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