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The Canadian Press - ONLINE EDITION

Canadian home sales up almost one per cent in July from June: CREA

OTTAWA - The Canadian Real Estate Association says home sales in July rose almost one per cent from the previous month, marking the sixth consecutive monthly increase and the highest level for sales since March 2010.

The association says sales through its Multiple Listings Service rose 0.8 per cent from June to July.

Sales rose in about 60 per cent of all local housing markets in July, led by gains in Victoria, Winnipeg, London and St. Thomas, Ont., and Ottawa, together with broadly based increases in Quebec and New Brunswick.

The national average sale price for a home was up five per cent in July to $401,585 year-over-year.

The real estate association says the national average price continues to be skewed upward by sales in Greater Vancouver and Greater Toronto, which are among Canada's most expensive housing markets. Excluding these two markets, the average price is up four per cent to a more modest $327,988.

The association also says the number of newly listed homes edged up 0.4 per cent in July.

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