A real estate sign is pictured in Vancouver, B.C., Tuesday, June, 12, 2018. The Canadian Real Estate Association says home sales in August climbed 6.2 per cent compared with July to hit an all-time monthly record with gains led by the Greater Toronto Area and B.C.’s Lower Mainland. THE CANADIAN PRESS Jonathan Hayward

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

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

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.

READ MORE: SFU housing expert explains Lower Mainland’s surprising real estate sales numbers

The Canadian Press


Like us on Facebook and follow us on Twitter.

Want to support local journalism during the pandemic? Make a donation here.

CoronavirusReal estate

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

Just Posted

Funding plan approved for downtown Vernon cultural centre

The funding strategy includes $4 million to be raised in the community

Support keeps Vernon’s O’Keefe Ranch afloat through fall

The ranch hit hard by COVID-19 will stay open through October, possibly December

Morning Start: There is a Hot Pink Lake in Australia

Your morning start for Friday, Sept. 25, 2020

PHOTOS: Windstorm blows through Kelowna

Photos from readers in the Central Okanagan following Wednesday night’s storm

Halloween festivities cancelled at Kelowna’s Orchard Park Shopping Centre

Physical distancing guidelines would not be attainable while holding the annual trick-or-treat event

B.C.’s top doctor thanks supporters after revealing threats over COVID-19 measures

Dr. Bonnie Henry says COVID-19 has caused some people to lash out in anger and frustration out of fear

Hedley man advertises bounty on rats

One rat tail will net five dollars

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

97 distressed horses, cats and dogs seized from farm in Princeton

RCMP assisted as BC SPCA executed search warrant

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

NDP, Greens divided on pace of child care improvements in B.C. election campaign

NDP Leader John Horgan recommitted to $10-a-day child care and blamed the Greens for not supporting his efforts

BC Liberal Leader talks drug addiction in the Lower Mainland

Drug addiction and public safety a top priority says Andrew Wilkinson

Kamloops Mounties happened upon alleged gang-related robbery, kidnapping

Michael Mathieson is charged with armed robbery, unlawful confinement and kidnapping

Pandemic derails CP Holiday Train

Canadian Pacific will work to get donations to food banks while also producing an online music concert

Most Read