According to the Canadian Real Estate Association report released Friday, the housing resale market for July posted its largest year-over-year gain in two years.
Record sales of existing homes in July hit 50,000 units. A total of 50, 270 homes sold, up 18.2% from the same month last year, and 3.9% above the previous record for July that was set in 2007.
Demand in some of Canada's priciest housing markets:
Gains year-over-year;
- Toronto (28%)
- Vancouver (90%)
- Montreal (19%)
- Calgary (22%)
- Edmonton (28%)
- Is moving prices higher by an average of 7.6% from one year ago to $326,832.00 CAD.
Disclosure: No position.
