Canadian Home Sales Edge Lower But Remain Strong In July

OTTAWA — August 14, 2015 - According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity edged slightly lower on a month-over-month basis in July 2015.
Highlights:
* National home sales edged back by 0.4% from June to July.
* Actual (not seasonally adjusted) activity stood 3.4% above July 2014 levels.
* The number of newly listed homes edged up 0.2 per cent from June to July.
* The Canadian housing market remains balanced overall.
* The MLS(r) Home Price Index (HPI) rose 5.9% year-over-year in July.
* The national average sale price rose 8.9% on a year-over-year basis in July; excluding Greater Vancouver and Greater Toronto, it increased by 4.1%.
The number of home sales processed through the MLS Systems of Canadian real estate Boards and Associations declined by 0.4 per cent in July 2015 compared to June. While this marks the second consecutive monthly decline in activity, sales activity in May, June and July reached their highest monthly levels in more than five years.