July was a record hot month for home resales, real estate agents report

2003-08-14 · Les Twarog & Sonja Pedersen

Canadian Press
Sun

OTTAWA (CP) - Sales of existing homes shattered previous monthly records in July, the Canadian Real Estate Association says.

However, July was also the first month since February that the average price did not set a record. Sales by agents on the multiple listing service in 25 major markets across the country rose by 14.5 per cent to 30,281 units from 26,444 in June on a seasonally adjusted basis, the association said in a statement Thursday.

July sales surpassed the previous monthly peak of 27,859 units set in January 2002.

The average price of resale homes in July stood at $225,122, an 11.7 per cent increase from a year earlier when it stood at $201,504.

The association reports twice a month on MLS home sales, once on sales in 25 major urban markets and then on all markets.