According to the latest from the Canadian Real Estate Association, home sales in June of 2014 increased by one per cent over June of 2013.
“Sales have improved compared to their slower start earlier this year,” said the president of the Canadian Real Estate Association, 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.”
From May to June, national sales activity increased by 0.8 per cent, while the national average sale price increased by 6.9 per cent from June 2013 to June 2014.
“At least some of the recent burst in new supply reflects the slow start to the year, when a harsh winter caused many sellers to delay listing their home in many parts of the country,” said the chief economist for the Canadian Real Estate Association, Gregory Klump. “In markets with tight supply and strong demand, the strength of sales in recent months reflects how many properties were snapped up once they finally hit the market. Because the impact of deferred listings and sales has likely run its course, activity over the second half of the year may not be able to maintain the kind of pace we’ve seen over the past couple of months.”