According to the Canadian Real Estate Association, home sales fell for the fifth consecutive month from June to July, but the most recent decline was the smallest of the five.
On a seasonally adjusted basis, sales fell 5.3% in July compared to June, according to the association. Last month’s actual sales number was 37,975 for him, down 29% compared to last July.
The average selling price was $629,971, down 5% from last July’s $662,924, and seasonally adjusted to $650,760, down 3% from June.
Excluding the typically hot Greater Vancouver and Toronto areas from the calculation saves $104,000 from the national average price.
Jill Udill, chairman of CREA, said such numbers are a continuation of a trend that has been going on for months and will result in buyers re-entering the market looking for more options. but not as much as they expected.
Total new listings totaled 73,436 in July, she said, down 6% from July last year and down 5% from June on a seasonally adjusted basis.