National resale housing market sales activity remained up from year-ago levels in August 2009 for the third consecutive month, posting the largest year-over-year gain in more than two years.
According to statistics released by The Canadian Real Estate Association (CREA), a total of 42,483 homes traded hands via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards in August 2009. This represents an increase of 18.5 per cent from the same month last year, and the third consecutive year-over-year gain of more than 15 per cent. Sales were 6.6 per cent below the record for the month of August set in 2007.
On a seasonally adjusted basis, national MLS home sales held steady. At 42,426 units, seasonally adjusted activity came to within six-tenths of one per cent of levels in the previous month. Seasonally adjusted activity in Alberta and Quebec declined, offsetting activity gains in British Columbia. Seasonally adjusted activity still remains 60.8 per cent above the decade-low in January.
Read the full news release “MLS® home sales remain strong in August” from CREA (September 15, 2009).