Existing home market continues to post gains

(Source: Financial Post)

Canada’s resale housing market continues to post gains, with 42,483 homes trading hands in August, an 18.5% gain from a year ago, the Canadian Real Estate Association said Tuesday.

On a month-to-month basis homes sales dipped slightly. “At 42,426 units, seasonally adjusted activity came to within six-tenths of 1% of levels in the previous month,” CREA said in its monthly activity report.

Resale activity rose from year-ago levels in about three quarters of local markets. Year-over-year gains of 117% in Vancouver, 27% in Toronto, 17% in Calgary and 9% in Montreal contributed most to the national increase in activity.

Prices also rose, although they were skewed higher by growing demand in Canada’s more expensive housing markets. The national average price rose 11.3% from a year ago to $324,779 in August, CREA said.

Read the full article “Vancouver leads home sale surge with 117% leap” in the Canada.com (September 15, 2009).

Developments featured in this article

More Like This

Facebook Chatter