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

Celebrating 50 years of Rotary in action

The Rotary Club of Ladysmith was formed September 20, 1970

Unofficial holidays: Here’s what people are celebrating for the week of Sept. 27 to Oct. 3

World Farm Animals Day, Drink Beer Day and Virus Appreciation Day are all coming up this week

Paul Manly reacts to Liberal throne speech

Manly says the Liberals need to back up their promises with action

Island Savings closes Ladysmith branch

Ladysmith branch members can be served by the Chemainus branch

New Chemainus development offers prime building lots in a diverse neighbourhood

Beachwood Estates officially opens with interest already high due to its location

QUIZ: Do you know what’s on TV?

Fall is normally the time when new television shows are released

A (virtual) walk around the world by 88-year-old B.C. man

George Doi says it’s simple: ‘I like walking’

End of CERB means uncertainty for some, new system for others

As of a week ago, the CERB had paid out $79.3 billion to 8.8 million people

Horgan, Wilkinson trade barbs over MSP premiums, health care at campaign stops

Horgan called a snap election for Oct. 24 earlier this week

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Vancouver Island Tour de Rock riders roll into Parksville Qualicum Beach

Saturday’s schedule includes Port Alberni, Ucluelet and Tofino, followed by Nanaimo on Sunday

PHOTOS: 2nd calf in a month confirmed among Southern Resident killer whale pod

Center for Whale Research said they will eagerly await to observe the calf to evaluate its health

Most Read