National home sales fall 4% between July and August as market slows: CREA

The actual number of sales amounted to 40,257, up 5.3 per cent from a year earlier.CREA says the national sales figure was pulled lower in August by declines in Greater Vancouver and the Fraser Valley in B.C., Montreal, Ottawa, Hamilton and Burlington, Ont., as well as London and St. Thomas, Ont.

The seasonally adjusted average price of a home in August fell 2.3 per cent from July to $674,184, while the actual price was up 2.1 per cent from a year earlier to $650,140. New listings hit 69,438, a 5.5 per cent rise from the prior August, helping to balance supply and demand.

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