Overview

• The Canadian Real Estate Association (CREA) reported a 1.3% increase in home sales from July to August 2024.
• Year-over-year, August home sales decreased by 2.1%, reflecting ongoing market stagnation.
• The national average home price in August was $649,100, nearly unchanged from the previous year.
• The number of newly listed properties rose by 1.1% month-over-month, driven by new listings in Calgary and Edmonton.
• Economists predict that continued interest rate cuts by the Bank of Canada could spur market activity in the coming months.