According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity edged up almost one per cent on a month-over-month basis in June 2014.
Highlights:
- National home sales rose 0.8% from May to June.
- Actual (not seasonally adjusted) activity stood 11.2% above June 2013 levels.
- The number of newly listed homes was little changed from May to June.
- The Canadian housing market remains in balanced territory.
- The national average sale price rose 6.9% on a year-over-year basis in June.
- The MLS® Home Price Index (HPI) rose 5.4% year-over-year in June.
Sales rose in about half of all local housing markets in June, led by gains in Greater Vancouver where activity hit its highest level in more than three years, and Montreal where activity is now 10 per cent above post-recession lows reached earlier this year.
"Sales have improved compared to their slower start earlier this year," said CREA President Beth Crosbie. "That said, there are still important differences in how housing markets are faring depending on location, housing type and price point. Whether you're looking to buy or sell, your local REALTOR® is your best source of information on all the factors driving the market where you currently live or might like to in the future."
