New single family houses billed as estate cottages are seen in an aerial view, in Delta, B.C., on Monday, Aug. 12, 2024. THE CANADIAN PRESS/Darryl Dyck
OTTAWA – The Canadian Real Estate Association says home sales in July were up from a year ago, but edged back from where they were in June this year.
The association says home sales in July were up 4.8 per cent compared with the same month last year.
On a seasonally adjusted basis, home sales in July were down 0.7 per cent from June.
New listings were up 0.9 per cent on a month-over-month basis.
The actual national average home price in July was $667,317 down 0.2 per cent from July 2023.
The results came after the Bank of Canada cut its key interest rate in June, its first move lower since the early days of the pandemic in 2020. The central bank cut its key rate again on July 24.
This report by The Canadian Press was first published Aug. 15, 2024.
