Still, non-seasonal adjusted transactions soared 8.7 per cent compared to July 2022, marking the largest year-over-year national sales increase in more than two years. Similarly, the national average home price for the same period also made gains, reaching $668,754, or an increase of 6.3 per cent.
New listings were up 5.6 per cent on a month-over-month basis, building on gains seen in previous months, and moving off a 20-year low in March to a level closer to average. CREA expects buyers will stay on the sidelines until the path of interest rates becomes more certain.Article content “We certainly have noticed demand temper a bit now,” Ash said. “So I think as we move forward into September, we’re going to see a levelling off of pricing across the country.”