Wednesday, August 20, 2014

Home Sales in Canada Rise For the Sixth Straight Month in July

TORONTO — Sales of existing homes in Canada rose in July to their highest level since March 2010, notching their sixth straight monthly increase after a slow winter, the Canadian Real Estate Association (CREA) said on Friday.
CREA, the industry group for real estate agents, said sales were up 0.8% last month from June, surpassing June’s downwardly revised 0.6% increase. Actual sales for July, not seasonally adjusted, were up 7.2% from July 2013.
Canada’s housing market has roared back to life after an especially brutal winter that hurt home-building, sales and prices. The bounce-back has been bolstered by low mortgage rates, which are not expected to rise significantly until 2015.

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