A person walks past multiple for-sale and sold real estate signs in Mississauga, Ont., on Wednesday, May 24, 2023. THE CANADIAN PRESS/Nathan Denette
OTTAWA – The Canadian Real Estate Association says home sales slowed last month as they tumbled by roughly four per cent between July and August.
Seasonally adjusted sales totalled 38,345 in August compared with 39,996 in July.
The actual number of sales amounted to 40,257, up 5.3 per cent from a year earlier.
CREA says the national sales figure was pulled lower in August by declines in Greater Vancouver and the Fraser Valley in B.C., Montreal, Ottawa, Hamilton and Burlington, Ont., as well as London and St. Thomas, Ont.
The seasonally adjusted average price of a home in August fell 2.3 per cent from July to $674,184, while the actual price was up 2.1 per cent from a year earlier to $650,140.
New listings hit 69,438, a 5.5 per cent rise from the prior August, helping to balance supply and demand.
This report by The Canadian Press was first published Sept. 15, 2023.
