Home sales rebound, but it won’t last long, analyst says
Filed Under Main Content · Tagged: Adjusted Basis, Ahead, British Columbia, Canada, Canadian Real Estate, Consumers, Existing Home Sales, Harmonized Sales Tax, Home Purchases, Hst, Implementation, Industry Consensus, July 1, Real Estate Association, Rebound, Sales Tax
Times Colonist- Existing home sales in Canada rebounded in August, but the industry consensus is both prices and activity will decline the rest of this year. The only argument is by how much.
The Canadian Real Estate Association reported yesterday that August sales were up 4.1% on a seasonally adjusted basis from July — a bad month for home sales because of the effects of the harmonized sales tax implementation in Ontario and British Columbia. As consumers scrambled to make their home purchases ahead of the July 1 HST deadline, June figures saw a boost, but July sales withered…
Home sales rebound, but it won’t last long, analyst says
Home sales rise for first time since March
Filed Under Main Content · Tagged: Canadian Real Estate, Canadian Real Estate Association, Existing Home Sales, Four Months, Ottawa, Real Estate Association, Statistics, Times Colonist
Times Colonist- Existing home sales climbed in August for the first time in four months, the Canadian Real Estate Association said.
However statistics from the Ottawa-based group, which represents about 100 boards across the country, show prices continue to fall.
The average price of a home sold last month was $324,928, up only slightly from $324,843 a year ago. However, compared with last month, when the average price of a home sold was $330,351, prices are down 1.6%…
Home sales rise for first time since March
Home sales continue to drop
Filed Under Main Content · Tagged: Adjusted Basis, Calgary, Canadian Real Estate, Canadian Real Estate Association, Existing Home Sales, First Quarter, Mortgage, Ottawa, Rapid Decline, Real Estate Association, Record Sales, Toronto
Financial Post- Existing home sales continued their rapid decline last month with 70% of markets showing a drop in sales in June from May, according to the Canadian Real Estate Association.
The Ottawa-based group, which has 100 boards across the country, said sales were off 8.2% from a month ago on a seasonally adjusted basis. Toronto and Calgary led the decline.
CREA said tighter mortgage rules and rising rates are slowing the market which declined 13.3% from first quarter which had close to record sales.
"As expected, these two national factors contributed to a widespread decline in activity, with transactions down in all but a dozen or so smaller markets," said CREA…
January home sales slip from previous month
Filed Under Main Content · Tagged: Adjusted Basis, Canadian Real Estate, Canadian Real Estate Association, Chief Economist, Decline, Existing Home Sales, Government Regulations, Housing Market, January Sales, Klump, Real Estate Association, Spring Market, Time Activity
Financial Post- Existing home sales declined on a monthly basis for the first time in more than a year but it may only be a temporary decline as new government regulations are expected to boost the spring market.
The Canadian Real Estate Association said yesterday January sales nationally were down 2.8% on a seasonally adjusted basis from December, the first time activity has fallen in 13 months. Despite the decline, January 2010 sales were 58% higher than a year earlier.
"January results suggest that the national resale housing market may be past the recent peak," said Gregory Klump, chief economist with CREA…
