July home sales up month-over-month, down from year ago, CREA says

OTTAWA – The Canadian Real Estate Association says home sales — and the price of those homes — remained steady in July compared with June while listings dropped slightly.

National home sales edged up 0.2 per cent month-over-month from June to July.

Compared with a year ago, actual sales activity was up by 9.4 per cent from July 2012 when Ottawa tightened the mortgage lending rules.

But sales volumes were nearly five per cent lower during the first seven months of 2013 compared with the same period last year.

The association says the Canadian housing market has tightened, but remains balanced.

The national average home price rose 8.4 per cent from July of last year, putting the average price at $382,373.