Canadian Home Sales Edge Up in August

Highlights

• National home sales rose 1.3% from July to August
• Actual (not seasonally adjusted) activity stood 9.9% below last August's level
• The number of newly listed homes fell further 3.9% from July to August 
• The MLS Home Price Index (HPI) was up 11.2% year-over-year in August 2017
• The national average sale price climbed by 3.6% year-over-year in August

"Experience shows that home buyers watch mortgage rates carefully and that recent interest rate increases will prompt some to make an offer before rates move higher, while moving others to the sidelines," said CREA President Andrew Peck. "All real estate is local, and listings where you live or might like to."
 
 The Realtors Association of Hamilton - Burlington (RAHB) reported 1,748 new listings were processed through the RAHB Multiple Listing Service (MLS) System in August, which is 5.4% higher than the same month last year and 4.2% higher than the 10 year average.
 
 All property sales were 18.4% lower than the same month last year, and 3.2% lower than the 10 year average.