The Canadian Real Estate Association (CREA) reported that the national housing market remained stable from June to July, 2012, noting a marginal 0.1% decline in the house sales activity. See CREA’s full press release here.
The national average price for homes sold in July 2012 was $353,147, down 2 per cent from the same month last year. In Ontario, the average home price increased by 1.5% from last July, bringing the average value to $361,414 from $356,095. This month, province’s unit sales were at 18,717, down 0.7 per cent from July 2011. New listings were up by 5.3 per cent from last year at 35,223.
The Canada Mortgage and Housing Corporation (CHMC) is expecting new and existing home markets to moderate through the end of 2012 and into 2013. Follow the link to view full new release.