National Home sales in August are at a height of 4 years, Crea says

The Canadian Real Estate Association says it recorded the highest number of home sales for August in four years, as the number of residential properties changing hands increased by 1.9 percent compared to a year ago.

Last month, 40,257 domestic sales were done across the country, which was above 39,522 in August 2024.

The sale of the house also increased by 1.1 percent on the basis of month-month, with the fifth direct monthly growth, with transactions increased by 12.5 percent since March.

Crea senior economist Sean Cathcart says that this trend can accelerate this decline as the new supply usually increases in the weather, and the potential rate cut by Bank of Canada this week can also increase the interest of buyers.

The association says that the new listing was 2.6 percent in the month of month and in late August there were 195,453 properties listed for sale in Canada, which was 8.8 percent from a year ago.

The actual national average selling price of a house sold in August was $ 664,078, which was 1.8 percent from a year ago.