MLS® home sales remain strong in August

Posted Sep 21, 2007 @ 11:25 am, Viewed by 327 Visitors, Read 335 Times.

Calagry Real Estate
MLS
from record levels but remained strong in August 2007, according
to statistics released by The Canadian Real Estate
Association (CREA).
Seasonally adjusted national MLS
29,717 units in August 2007, down 5.3 per cent from
July when monthly sales hit the second highest level on
record. While MLS
markets, the national monthly decline was largely the
result of fewer sales in August in Toronto, Montreal,
Edmonton and Vancouver.
The month-over-month decline in seasonally adjusted
sales in August also re
activity levels from the record levels seen in recent months. August
2007 marked the eighth highest monthly MLS
record for seasonally adjusted activity in Canada’s major markets.
Seasonally adjusted transactions posted the third highest monthly
level on record in Saint John NB and St. John’s NF, and reached the
fourth highest level ever in Ottawa.
Actual (unadjusted) MLS
cent compared to the same month last year. This continues the
trend where transactions have posted year-over-year gains in every
month so far in 2007. The year-to-date MLS
August numbered 265,833 units, an increase of 9.8 per cent from
levels recorded in the
transactions continue to run ahead of year-ago levels in almost all
major markets.
“There were adjustments to mortgage rates in July that may have
had an impact on the re-sale housing market in August” says CREA
Chief Economist Gregory Klump, “but the housing market continued
at near-record levels because the Canadian economy is strong, and
two factors that in
con
The seasonally adjusted totals for MLS
(48,817 units) edged down slightly in August from levels recorded
in July, but still represented the sixth highest monthly level on record
for new listings. The 1.5 per cent decline in new listings compared to
July was the result of fewer new listings in Toronto and Vancouver,
which offset the increase in re-sale housing listings in Calgary,
Winnipeg and Saskatoon.
That combination of a decline in MLS
new MLS
more balanced compared to July. High numbers of new listings have
caused market conditions in Calgary, Edmonton, Saskatoon and
Regina to become more balanced since the beginning of the year,
when these were four of the tightest housing markets in Canada.
While Winnipeg remains the tightest of Canada’s major markets, it
also became more balanced in August. In contrast, market conditions
in Vancouver and Kitchener-Waterloo were tighter in August than in
any other month this year.
® resale housing activity in Canada’s major markets edged back® sales activity totaled® sales edged lower in many majorfl ected a return to more normal® sales level on® sales activity in August was up 6.1 per® sales total includingfi rst eight months of last year. Year-to-datefl uence housing – employment and consumerfi dence – are strong.”® residential new listings® sales and a slight drop in® listings in August meant the resale housing market was
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