A real estate sign is pictured in Vancouver, B.C., Tuesday, June, 12, 2018. (File photo by THE CANADIAN PRESS)

CREA reports Canadian home sales climb again, set record for August

Gains led by the Greater Toronto Area and B.C.’s Lower Mainland

OTTAWA — The Canadian Real Estate Association says home sales in August climbed 6.2 per cent compared with July to hit an all-time record for the month with gains led by the Greater Toronto Area and B.C.’s Lower Mainland.

Compared with a year ago, sales in August were up 33.5 per cent.

Home sales in Canada came to a near halt in the spring due to the COVID-19 pandemic, but have surged through the summer, helped by pent up demand and low mortgage rates. CREA says in addition to a record for August it was the sixth-highest monthly sales figure of any month.

Sales through the first eight months of the year have totalled 341,463 homes, up 0.8 per cent compared with the first eight months of 2019.

The national average home price also set another record in August at more than $586,000, up 18.5 per cent compared with a year ago.

Excluding Greater Vancouver and the Greater Toronto Area, two of Canada’s most active and expensive housing markets, lowers the national average price by about $122,000.

This report by The Canadian Press was first published Sept. 15, 2020.

Business

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Westerner Park audit finds ‘gross operational mismanagement, gaping holes and lack of controls,’ says councillor

Two councillors question audit’s conclusion no inaccuracies were presented to the governance board

160 new COVID-19 cases reported in Alberta on Tuesday

Province now has 1,571 active cases

Lack of nurses stressing Red Deer hospital staff, says union

‘We don’t have enough nurses to do the work that’s required’

Reports of horse fever confirmed in central Alberta

Alberta horse owners are on the alert for the spread of a… Continue reading

QUIZ: Do you know what’s on TV?

Fall is normally the time when new television shows are released

Canadian ‘keeper Dayne St. Clair makes most of MLS opportunity with Minnesota

Canadian ‘keeper Dayne St. Clair makes most of MLS opportunity with Minnesota

U.S. Presidential Debate Takeaways: An acrid tone from the opening minute

Here are key takeaways from the first of three scheduled presidential debates before Election Day on Nov. 3

Forge FC to play in El Salvador on Oct. 22 in CONCACAF League preliminary round

Forge FC to play in El Salvador on Oct. 22 in CONCACAF League preliminary round

Canada’s top coaches connect to navigate relationships with athletes

Canada’s top coaches connect to navigate relationships with athletes

No matter who wins the finals, Kentucky will have champions

No matter who wins the finals, Kentucky will have champions

Canadian Denis Shapovalov advances to second round at French Open

Canadian Denis Shapovalov advances to second round at French Open

Titans have NFL’s 1st COVID-19 outbreak; next game still on

Titans have NFL’s 1st COVID-19 outbreak; next game still on

“It’s a marvel” – Canada’s Levins to race in London marathon bubble Sunday

“It’s a marvel” - Canada’s Levins to race in London marathon bubble Sunday

Most Read