Canadian Real Estate Association says home sales volume down 1.3% in July
OTTAWA — The Canadian Real Estate Association says July marked the third consecutive month of fewer home sales, as the Vancouver market slowed.
The association said Monday the number of transactions fell 1.3 per cent nationally between June and July, as more than half of all markets tracked showed declines in July — including Greater Vancouver and the nearby Fraser Valley, which slipped 6.7 per cent and 14.0 per cent, respectively.
The national sales in July were also down 2.9 per cent compared with the same month a year ago, as Greater Vancouver fell 18.3 per cent and the Fraser Valley lost 10.4 per cent.
“The real eye-catcher is the fact that mighty Vancouver has been largely responsible for the recent cooling, with seasonally-adjusted sales now falling in five straight months, albeit from gaudy record levels at the turn of the year,” BMO senior economist Robert Kavcic wrote in a note to clients.