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

QUIZ: A celebration of apples

September is the start of the apple harvest

Unofficial holidays: Here’s what people are celebrating for the week of Sept. 20 to 26

Rabbit Day, Hobbit Day and One-Hit Wonder Day are all coming up this week

Interior Health reports three additional COVID-19 cases in region

The number of cases in the region since the beginning of the pandemic are now at 492

COVID-19 minimizes Okanagan Regional Library budget increase

Library adapts to pandemic fiscal disruptions

Interior Health continues to tackle COVID-19

IH president Susan Brown says don’t become complacent about pandemic

B.C. or Ontario? Residential school survivors fight move of court battle

It’s now up to Ontario’s Court of Appeal to sort out the venue question

B.C. transportation minister will not seek re-election

Claire Trevena has held the position since 2017

Squabble over mask policy at LUSH in Kelowna mall

The woman filmed the encounter at LUSH Cosmetics, where wearing a mask in-store is company policy

Cops For Kids ride wraps in Okanagan

No pomp, no circumstance for end of milestone 20th anniversary fundraising bicycle trip

Former Kelowna cop faces fourth lawsuit alleging sexual assault

Ex-Mountie Brian Mathew Burkett is also separately facing seven charges of breach of trust

Province opens ‘middle income’ housing in Kelowna

Prices on the units are $1,300 for a one-bedroom and $1,780 for a two-bedroom, nearing area-average prices

Young B.C. cancer survivor rides 105-km with Terry Fox’s brother

Jacob Bredenhof and Darrell Fox’s cycling trek raises almost $90,000 for cancer research

B.C. migrant, undocumented workers rally for permanent residency program

Rally is part of the Amnesty for Undocumented Workers Campaign led by the Migrant Workers Centre

Reward offered for return of Okanagan puppy

An 11-week-old boxer-mastiff cross pup was allegedly taken from its Kelowna Friday, Sept. 18

Most Read