Canadian Home Sales Climb Higher in August

OTTAWA — According to statistics released mid September by The Canadian Real Estate Association (CREA), national home sales activity rose nearly two per cent from July to August 2014.
Highlights:
•    National home sales rose 1.8% from July to August.
•    Actual (not seasonally adjusted) activity stood 2.1% above August 2013 levels.
•    The number of newly listed homes fell 1.2% from July to August.
•    The Canadian housing market remains in balanced territory.
•    The MLS Home Price Index (HPI) rose 5.3% year-over-year in August.
•    The national average sale price also rose 5.3% on a year-over-year basis in August.
The number of home sales processed through the MLS Systems of Canadian real estate Boards and Associations rose 1.8 per cent on a month-over-month basis in August 2014, marking the seventh consecutive monthly increase, and the highest level for sales since January 2010.